Binance and Mercado Bitcoin suffer major crypto hacks
6.6 Security Binance lost $6.3B in a record hack; Mercado Bitcoin halted operations after a $40M incident, assuring no client losses. Security concerns in crypto rise.
On October 29, 2026, Binance experienced a major security breach, resulting in the theft of approximately $6.3 billion within just 20 minutes. The company announced it would cover all user losses and managed to freeze around $3 billion of the stolen assets. Blockchain analytics firms attributed the attack to the TraderTraitor group, allegedly linked to North Korea, though Binance has not officially confirmed the culprit. This incident is now considered the largest crypto theft on record. A few days later, on November 2, Mercado Bitcoin, Brazil’s largest crypto exchange, reported a security incident. As a precaution, the platform suspended deposits and withdrawals. While the exact amount was not disclosed, estimates suggest $40 million in suspicious transfers. Mercado Bitcoin assured users that no client funds were lost and no data was compromised. These consecutive attacks have raised significant concerns about the security of crypto exchanges and the need for enhanced protective measures across the industry.
