--- title: "It Took Hackers Just 20 Minutes to Steal $6.3 Billion in Crypto from a Single Platform" description: "North Korean hackers drained the crypto exchange Binance of billions in digital coins. It only took 20 minutes." date: "2026-10-30" modified: "2026-10-30" authors: - name: "Maggie Harrison Dupré" job_title: "Senior Staff Writer" link: "https://futurism.com/authors/mharrison.md" url: "https://futurism.com/future-society/hackers-20-minutes-crypto-binance" categories: - "Blockchain" - "Cryptocurrency" - "Future Society" tags: - "crypto" - "cryptocurrency" --- # It Took Hackers Just 20 Minutes to Steal $6.3 Billion in Crypto from a Single Platform ![A hacker using a laptop.]() *Shutterstock* Crypto exchange Binance suspended withdrawals after elite hackers stole a staggering $6.3 billion in digital assets, marking what may be the biggest crypto heist of all time. Researchers at the crypto research firm TRM Labs [told the *New York Times*]() that they have "high confidence" in its assessment that the theft was the work of "North Korea's elite hacking unit." It reportedly took just 20 minutes to drain Binance of billions of dollars in crypto. Binance said that it was able to work with its partners to freeze about $3 billion in assets. TRM, however, estimates that around $2.4 billion in assets were moved "beyond any issuer's reach," per the *NYT*, meaning that those coins are likely as good as gone. The exchange[ stated in an X-formerly-Twitter post]() that it had initially thought that the breach was the result of a single compromised employee laptop. Further investigation, however, suggests that the attack was more elaborate. "This was a complex attack, and we are doing all we can in coordination with law enforcement to resolve it," Binance said. "We are still gathering the facts, and will share more directly as we have them." The crypto firm also said that it would "cover all losses" using reserve funds. Binance founder Changpeng "CZ" Zhao [said on X]() that "user funds are safe," but the incident "does look like a hack." Zhao, a major player in the crypto world, pleaded guilty to money laundering and was sentenced to four months in prison in 2024 but was pardoned last year by president Donald Trump after Binance provided support to World Liberty Financial, the Trump family's [much-scrutinized]() crypto venture. (Zhao is no longer Binance's CEO, but is still a shareholder.) Previously, crypto's biggest heist was last February's attack on Binance rival Bybit, according to *NYT*. That attack was also carried out by North Korean hackers, who made away with $1.5 billion. TRM [told *Reuters*]() that the Bybit and Binance heists share similarities suggesting that the same team may be responsible for both breaches. That North Korea is responsible once again is unsurprising: the isolated nation, which has been under the thumb of dictators for decades, relies heavily on [state-sponsored crime]() to bring in cash. Crypto has always been risky — and even riskier now that cybercriminals have access to [advanced AI tools]() that are supercharging hacking efforts across the digital world. **More on crypto:** *[These Supposedly Super Secure Ledger Blockchain Wallets Are Secretly Draining User’s Crypto Holdings]()* ## Author At Futurism, I've reported extensively on the rise of AI as a cultural and business force shaping the media industry, and more broadly how those dynamics are changing how we all consume and share information and relate to one another. I'm also fascinated by public health policy and ethics, the role of emerging tech in politics and governance — and the powerful people and forces at those intersections — climate change, and the environment. My investigation on Sports Illustrated's use of AI-generated authors with fictional biographies won a 2024 Mirror Award for "Best Story on Media Coverage of Artificial Intelligence in Journalism and the Media" from Syracuse University's SI Newhouse School, I contributed to Niemen Lab's 2025 Predictions for Journalism series, and I've discussed my work for Futurism during appearances on NPR, CNN, the BBC, the CBC, and more. I grew up in rural Pennsylvania and attended the University of Massachusetts Amherst, where I played Division I field hockey for the Minutewomen as a midfielder. Since then, I've lived in New Orleans, Louisiana and Manhattan, New York. I spend my free time running, reading, perusing archival fashion, and searching for the world’s best negroni. I also have a debonair tuxedo cat, Westley, who's named after "The Princess Bride." ### Author social links [Bluesky]() ## More - [Binance Guy Says the Crypto Crash is Good, Actually]() - [Hackers Just Stole Nearly $200 Million from a Crypto Exchange, in the Second Heist in Two Weeks]() - [Former SEC Lawyer Issues Warning That Binance Is an “FTX Redux”]() - [Scammers Deepfake Crypto Exec to Steal Money From People]() - [Hacker Steals $600 Million in Crypto, Gets Scared and Returns It]() - [Hackers Loot Blockchain Bridge for Millions In “Frenzied Free For All”]() - [Crypto Company Offers Massive Bounty to “White Hat Hackers” After Giant Heist]() - [OnlyFans Star Amouranth Says She Was Robbed at Gunpoint for Her Crypto]()