Binance Holdings, the world’s largest cryptocurrency exchange, lost an estimated $6.3 billion to hackers early on Friday, in what has been described as the single biggest theft of crypto on record, exceeding the $1.5 billion stolen from Bybit in February 2025.

Funds began leaving Binance’s hot wallets, which are connected to the internet to process customer withdrawals, at about 12.24am UAE time on October 30. A single transaction moved roughly 167,464 Ether, worth about $388 million, along with 63 other tokens, to an address created hours earlier and funded through the Tornado Cash mixing service, according to Etherscan data.

The stolen assets then spread across the Bitcoin, Ethereum, Tron and Ripple networks. Blockchain analytics firm…