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Binance Freezes $3B After $6B Hack, Crypto Market Slides 2%
Published: October 30, 2026
Binance froze $3 billion in assets after a $6 billion theft linked to North Korean hackers, marking the largest crypto breach to date. The incident sent Bitcoin down 2%, BNB over 8%, and rattled the broader crypto market, with investors awaiting further guidance from Binance and regulators.
Binance announced a $3 billion asset freeze after a $6 billion theft attributed to North Korean hackers—according to an Axios report the exchange suspended trading on Thursday, and said the freeze could rise as investigations continue.
Binance’s 2024 annual report lists $160 billion in assets under custody and 335 million registered users worldwide, underscoring the scale of the breach relative to the exchange’s overall footprint.
Bitcoin fell 2% to $77,646, Ether slid 2% to $2,238.76, and Binance Coin (BNB) plunged over 8% to $694, as reported by CoinGecko, reflecting immediate market panic.
In extended U.S. trading, Coinbase Global shares dipped 4.8% and Strategy fell nearly 6%, while other crypto‑related stocks mirrored the downturn, signaling a broader risk‑off sentiment across the sector.
Binance faces mounting regulatory pressure: a $4.3 billion penalty from the SEC, ongoing lawsuits, and a history of compliance lapses, all of which could influence the pace at which the exchange restores normalcy.
The company is partnering with law‑enforcement agencies and blockchain intelligence firms to trace and freeze additional assets, but no definitive timeline has been released; investors remain on edge as the crypto market watches for a possible regulatory crackdown.