Binance Probes $6.3 Billion Crypto Heist

Binance is investigating an estimated $6.3 billion theft from its internet-connected hot wallets, potentially the largest crypto-exchange heist on record. Blockchain analysis firms have linked the attack to North Korea-associated group TraderTraitor, but the U.S. administration has not confirmed responsibility. Early findings point to a compromised employee laptop and manipulation of transaction-approval systems, with malicious software reportedly used to erase traces; Binance says it has found no evidence that wallet private keys were compromised. The exchange temporarily paused withdrawals, pledged to cover customer losses with more than $6.34 billion in reserves, and said partners had frozen about $3 billion in assets. The breach has shaken crypto markets, prompted U.S. agency investigations and renewed calls for stronger exchange security and regulation.