Binance temporarily suspended withdrawals after reporting a security breach involving approximately $6.3 billion in stolen digital assets, triggering losses across cryptocurrency markets and shares of companies exposed to the sector.

The incident, disclosed on Thursday evening, represents the largest reported cryptocurrency theft on record, according to the exchange. Binance said it had worked with industry partners to freeze approximately $3 billion in affected assets and would cover all losses using its own funds.

The exchange expects withdrawals to resume within 48 hours, subject to the completion of additional security checks.

Bitcoin fell sharply following the announcement, while Ether,…