# Binance hit by record crypto theft, says it will cover the losses

- By: Bull Run Post Newsroom
- 2026-11-02T11:39:07.000Z
- Produced with artificial intelligence under human editorial supervision.
- Update 2026-11-02: According to the firm Elliptic, at 07:30 UTC on 2 November $2.85 billion was frozen or seized of the $6.43 billion it calculates was stolen, and about $3.24 billion remained in addresses linked to the theft. These are one industry firm's estimates. We cover this in a new article.

## Excerpt

The exchange puts the theft at about 6.3 billion dollars, paused deposits and withdrawals, and has reopened withdrawals in phases since 1 November. What protects a customer when a platform is robbed. Binance reported on 29 October 2026 the theft of about 6.3 billion dollars in digital assets, the largest on record in crypto, according to the exchange and the outlets that covered it. The FBI blamed the North Korean group TraderTraitor for the theft on 31 October; analytics firms TRM Labs and Chainalysis had already pointed to the same group. Binance says it will cover the losses from its own funds and that up to 90% of the affected assets were covered by 31 October and about 95% by 1 November, according to CoinDesk; withdrawals restarted in phases that day.

> This information is not investment advice or a recommendation to buy or sell. All investment involves risk.

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https://bullrunpost.com/en/2026/11/02/binance-6-3-billion-crypto-theft/

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