Binance Seizes $3 bn of $6.3 bn Stolen in North Korea‑Linked Hack

Binance, the world’s largest crypto exchange, has frozen roughly $3 bn of the $6.3 bn ($4.7 bn) it says was siphoned off in a sophisticated hack that analysts link to a North Korean cyber‑crime unit. The exchange initially blamed a compromised engineer’s laptop but later confirmed a broader breach. U.S. authorities, including the Secret Service, FBI and the Treasury’s Financial Crimes Enforcement Network, are working to trace, freeze and recover the remaining stolen funds. Binance has assured users that their money is safe and that it will cover all losses, while also maintaining that deposits remain unaffected. The incident eclipses the $1.5 bn Bybit heist of 2025 and underscores the growing threat of state‑backed hacking in the crypto market.