What we know about Binance’s multi-billion-dollar crypto hack | Explained

Binance shared that the “security incident” led to estimated losses totalling around $6.3 billion [File] | Photo Credit: REUTERS The story so far: One of the world’s top cryptocurrency exchange platforms, Binance, was hit by a cyberattack on October 29 that led to the loss of assets valued at over $6 billion. While the facts are still emerging and investigations are ongoing, the exploit could go down as the largest crypto hack on record.On October 30, after independent crypto trackers posted warnings, Binance announced that it was aware of reports of a “potential security issue,” but assured users that their funds were completely safe. Published - October 31, 2026 12:53 pm IST