The attack on Binance began in the early hours of October 29 and, in about 20 minutes, became the biggest crypto hack in history, with more than US$ 6 billion stolen, and by November 2 the company had returned 100% of the amount to customers.

The company secured assets covering approximately 95 percent of the US$ 6.3 billion stolen, after net outflows of US$ 3.6 billion in the first nine hours, about 2 percent of the US$ 171 billion under management, while stablecoin issuers froze approximately US$ 3 billion of the affected funds. The preliminary investigation points to a compromised laptop belonging to an engineer, which could have allowed unauthorized withdrawal transactions. The Federal Bureau of Investigation (FBI) said two days after the attack that North Korea was responsible for the theft, attributed by security firms to the TraderTraitor group.