The world’s largest cryptocurrency platform, Binance, confirmed on Thursday that it was investigating a potential security breach that resulted in an estimated $6.3 billion impact.

Analysts said the breach could amount to the largest-ever crypto heist 

“It does look like a hack on Binance,” said former company chief Changpeng Zhao, who remains a major shareholder.

Binance said it worked to freeze the affected assets and that it had located about $3 billion so far. It did not provide information about the remaining $3.3 billion. 

“Binance will cover all hacking losses,” co-founder Yi He said, without providing more details about the incident.

Some $3 billion (€2.7 billion) had been frozen in response to the suspected hack.