Business · 2026-10-30 · Morning briefing

Binance halts withdrawals after record $6.3bn hack

Binance, the world’s largest cryptocurrency exchange, has suspended all withdrawals and deposits after suffering the industry's biggest-ever hack. The company announced on Friday that funds worth $6.3 billion were affected by the security breach, prompting an immediate halt to user transactions as it works with law enforcement.

Of the total, Binance has managed to freeze $3 billion in crypto assets and is undertaking a complete security revamp. Despite the scale of the breach, which surpasses all previous cryptocurrency heists in value, the company is aiming for a swift resolution. Co-founder Yi He stated in a post on X that withdrawals are expected to resume by Sunday, setting a tight timeline for the platform to restore normal operations.

Summary written by Cup of News with AI from the sources below. Check the originals for the full story.

Read the sources

• Binance halts trading after biggest-ever crypto hack
• Crypto giant Binance hit by $6.3bn hack suspected to be largest in history
• Binance Halts Withdrawals After $6.3 Billion Hack
• Binance Reports About $6.3 Billion Hit in Suspected Hack, Halts Withdrawals
• Binance’s $6.3 Billion Hack Started With One Engineer’s Laptop

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