Binance, the world’s largest cryptocurrency exchange, has reported a hack with losses estimated at $6.3 billion (£4.7 billion). This is the largest known theft in the history of the crypto industry.

Company co-founder Richard Teng stated that, according to preliminary findings, hackers gained access to the systems via a compromised laptop belonging to a DevOps engineer. He noted that the attack was sophisticated and involved more than a single action. Teng assured clients that their funds are secure and that the company will cover all losses itself.

Two analytical firms link the incident to a North Korean hacking group, though no one has claimed responsibility for the breach. TRM Labs noted that several elements of the attack resemble previous incidents attributed to the DPRK, including a $1,5 billion hack of the Bybit exchange last year. Over the past five years, the crypto industry has repeatedly suffered major losses due to hackers, and in most cases, investigators have identified North Korean groups as the parties responsible.

Following news of a hack, the price of Bitcoin fell by approximately 5% to around $76 400—its lowest level in a month—reports AFP. According to Bloomberg, the prices of Ether, Solana, and XRP also saw a decline.