Bangladesh, Oct. 31 -- Hackers have stolen an estimated $6.3 billion from Binance, the world's largest cryptocurrency exchange, in what analysts say could be the biggest cryptocurrency heist on record, according to a Reuters report.

Binance halted withdrawals following the incident and said it would cover the losses using its own funds. The company said it had set aside around $6.34 billion to cover the shortfall and assured customers that their funds were safe.

The exchange expected to resume withdrawals within 48 hours, the report said.

Stablecoin issuers, including Tether and World Liberty Financial, froze around half of the stolen assets. Binance said approximately $3 billion had been located but provided no update on the remaining...