Binance, owned by Changpeng Zhao, the Chinese born Canadian billionaire who was pardoned by US President Donald Trump last year, was hit by a record-setting $6.3 billion cyberattack. The amount of money stolen has made it the largest cryptocurrency heist in history.Now, Zhao's company is facing an uncertain future and potential lawsuits after the massive $6.3 billion cyberattack.Binance owned by Chinese born Canadian billionaire who Trump pardoned last year, under heavy scrutinyAs reported by Al Jazeera, cyber attackers stole around $6.3 billion from 10 different blockchains in just 20 minutes. Initial investigations suggest that the attack may have started when hackers gained access to a DevOps engineer’s laptop.That breach allowed attackers to access systems used to authorize cryptocurrency withdrawals and send unauthorized transactions to steal funds. However, investigators have not confirmed that this was the only security breach, as other breaches have also been discovered.As Binance recovers from the breach, the incident adds a major new crisis to Binance's history of regulatory and legal battles. Changpeng Zhao, the co-founder and former CEO of Binance, pleaded guilty in 2023 to violating U.S. money laundering laws under the Bank Secrecy Act. He also pleaded guilty to failing to maintain an effective anti-money-laundering (AML) program.However, President Donald Trump granted Zhao a full presidential pardon in October 2025. Back then, the Trump administration's justification for the pardon was that it believed Zhao was being prosecuted as part of an overzealous "war on cryptocurrency". Moreover, the Trump administration claimed that this "war" was waged by the previous Biden administration, portraying him as a victim of a weaponized Department of Justice.Changpeng Zhao is no longer the CEO at Binance, but his history has made him the subject of heavy criticism. Thus, not only is Binance under heavy scrutiny and facing an uncertain future, but questions are also being raised about Changpeng Zhao and whether it was right to pardon him back in 2025.In a public statement, Binance has expressed its next steps. The company stated it has reserved over $6.34 billion in company funds to cover the losses and restore affected assets to users. The reserve exceeds its initial estimate of $6.3 billion and excludes another $3 billion already frozen with the help of industry partners.The exchange holds $5 billion in the affected tokens and is purchasing the remaining $1.34 billion through market and over-the-counter (OTC) transactions to repay users in the same tokens. Binance has frozen around $3 billion and is working with law enforcement and industry partners to recover more assets. It stated that it will verify user funds through its Proof of Reserves system.Stay tuned for more updates.For more articles like this, follow Soapcentral.