Binance says it will cover more than $6,000 million in losses after a hack draws FBI attention

Binance said it will cover the full losses from a cyberattack that took more than $6,000 million from the exchange, while U.S. law enforcement joined the hunt for the hackers. For high-risk PSPs, the important bit is not the headline number; it is that the world’s largest crypto exchange froze withdrawals, said it could absorb the hit from operating revenue, and drew the FBI, Secret Service, and Justice Department into the case.

1. U.S. law enforcement has entered the picture. The FBI said it is aware of the incident and is coordinating with partners to understand the scope of the activity, assess possible repercussions, and coordinate appropriate investigative steps. A Secret Service spokesperson said the agency is also working with the private sector to recover stolen funds. The Department of Justice said it is aware of reports about the attack but would not comment on investigations.
2. Binance, the world’s largest crypto trading platform, suspended withdrawals after the breach and said it would cover all losses. Richard Teng, Binance’s co-CEO, said in a video posted on social media on Friday that the company can absorb the loss because it continues to invest a large share of its revenue in crypto assets. Yi He, also co-CEO, said Binance’s revenue for this year would fully cover the amount lost. Withdrawals were expected to resume on Sunday.
3. The exchange said the incident may be linked to a software engineer’s laptop and to “other vulnerable points.” It said it found no evidence of a private key leak. That matters operationally: if the root cause is endpoint compromise rather than a direct wallet-key breach, the postmortem for banks and PSPs shifts from pure custody controls to employee-device security and internal access hygiene.
4. Binance’s scale is why this matters to the market. It manages approximately $135.200 million in assets, compared with $28.600 million for OKX, the second-largest exchange, according to DefiLlama. The company said the U.S. is prohibited from using Binance.
5. The hack landed while the crypto market was already recovering from a two-month price rebound. Binance said the attack comes amid growing concern about hacker risks in the age of artificial intelligence, and Reuters noted recent cyberattacks on Polymarket, South Korea’s Mirae Asset Global Investments Co. and Daishin Securities, and Japan’s GMO Internet Group Inc.