Singapore, Oct 30 (V7N)- Binance, one of the world's leading cryptocurrency exchange platforms, has reportedly suffered a major cyberattack, resulting in the theft of digital assets worth approximately $6.3 billion. The incident is being described as potentially the largest cryptocurrency theft in history.

However, with assistance from partner organizations and blockchain firms, assets worth around $3 billion have reportedly been frozen or recovered.

Preliminary investigations suggest that the breach originated after a Binance engineer's laptop was compromised. The attackers allegedly used the device to gain access to an internal system and transfer large amounts of digital assets without authorization.

The incident triggered a sharp reaction across cryptocurrency markets. At the start of trading in Asian markets on Friday (October 30), Bitcoin fell more than 3 percent to $76,368, its lowest level in six weeks. Ether also declined by over 3 percent to $2,178, marking a two-month low.

Binance's native token, BNB, dropped 5 percent to $709. The impact also extended to US-listed companies linked to the cryptocurrency sector. Shares of Coinbase Global fell 4.8 percent, while MicroStrategy, a major corporate holder of Bitcoin, lost nearly 6 percent.

In response to the incident, several cryptocurrency companies and industry organizations have joined efforts to protect affected users and help recover the stolen funds.

Binance co-founder Yi He reportedly said the company would personally cover all financial losses resulting from the attack.

Tether has frozen assets worth approximately $1.57 billion, while Circle has blocked more than $800 million. Ripple, World Liberty Financial and BitGo have also reportedly assisted in efforts to seize additional funds.

Binance has stated that users' core funds remain secure. The platform has also temporarily suspended deposits and withdrawals as a precautionary measure to reduce further risks.

Meanwhile, industry experts have raised concerns about the growing sophistication of cyberattacks, particularly the potential misuse of artificial intelligence by cybercriminals.

Note: The reported $6.3 billion loss and related recovery figures are presented as claims from the supplied account and have not been independently verified.

END/SMA/AJ