How Binance's $6.3 Billion Hack Went Down

Binance’s executives assembled an emergency “war room” after unusual transactions began at about 4:20 p.m. Thursday, triggering fears that funds were being drained. The world’s largest cryptocurrency exchange halted deposits and withdrawals and later posted messages on X promising to cover losses. Reporting cited analysts saying North Korean hackers had penetrated the platform and stolen more than $6 billion, described as the biggest crypto heist ever. Binance transitioned to a mass conference call with around 100 participants using its internal messaging system, including security staff and specialized crypto tracers. Co-CEO He Yi, in Abu Dhabi, handled calls at 3 a.m. local time, while founder Changpeng Zhao posted updates on X.