Unauthorized withdrawals drain about $6.3 billion in client assets from Binance; exchange pauses withdrawals and pledges SAFU fund to cover losses

According to CNBC, crypto exchange Binance said a security incident affected about $6.3 billion in client assets, with about $3 billion frozen on-chain, the largest crypto hack on record ^[1]. Binance initially said a compromised DevOps engineer's laptop may have let an attacker reach a service container and submit unauthorized withdrawals, though Co-CEO Richard Teng later said the attack was more complex; TRM Labs and Chainalysis pointed to North Korea-linked TraderTraitor, while Binance has not attributed it ^[1]. Binance users should rely on official announcements for withdrawal status, note that affected address authorizations were revoked, and beware of scams impersonating Binance offering compensation ^[1].

Industries mainly affected: Finance

1. Check withdrawal status only through official Binance channels ^[1].
2. Note that Binance revoked affected address authorizations; recheck withdrawal address settings if needed ^[1].