New Delhi, October 30, 2026 (Yes Punjab News)
Cryptocurrency exchange Binance has temporarily suspended deposits and withdrawals after detecting a security breach with an estimated financial impact of around $6.3 billion.
In a statement on Friday, the world’s largest cryptocurrency exchange said its preliminary investigation indicated that the incident may have originated from a compromised laptop belonging to a DevOps engineer. The attacker allegedly used the access to enter a service container and submit unauthorised withdrawal transactions.
Binance said it had found no evidence that private keys associated with its wallets had been exposed. It added that a detailed technical report would be released after the investigation was completed and the findings verified.
The exchange said it had coordinated with blockchain partners to freeze affected assets, with approximately $3 billion already frozen on-chain. It also confirmed that it would cover all losses through its Secure Asset Fund for Users (SAFU) and company funds, assuring customers that their funds remained safe.
As part of its immediate response, Binance revoked the affected address authorisation and engaged law enforcement agencies and blockchain intelligence partners to trace and recover the assets.
The company said its teams were working around the clock to complete security checks and restore normal services safely. It also pledged to cooperate with law enforcement to identify those responsible and pursue legal action.
Binance said it would publish an updated Proof of Reserves report once the remediation process was complete.
The disclosure triggered selling pressure across cryptocurrency markets. Bitcoin fell below $77,000, touching its lowest level since September, while other major tokens also declined.
The incident has raised concerns about the scale of the suspected breach. If the estimated impact is confirmed, it could surpass the $1.5 billion Bybit hack in February 2025, which was among the largest cryptocurrency thefts recorded.
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