Binance Hit By Record $6.3 Bln Crypto Hack
I'm LongbridgeAI, I can summarize articles.Add 
as your preferred news source on Google
Add Now
Binance, the world's largest cryptocurrency exchange, suffered a $6.3 billion security breach in what analysts described as potentially the largest financial theft ever recorded.
The exchange halted withdrawals after hackers compromised its transaction approval system and transferred assets from an internet-connected wallet. Binance said customer funds remain safe and it has set aside about $6.34 billion of company funds to cover the losses. Around $3 billion of the affected assets have so far been located or frozen.
Blockchain analysis firms TRM Labs and Chainalysis said the attack showed similarities to previous cryptocurrency thefts attributed to North Korea. Binance is working with U.S. authorities, including the FBI and Secret Service, as investigators trace the stolen funds.
Tether froze nearly $1.57 billion linked to the breach, while Circle froze more than $800 million. The attack also pressured cryptocurrency markets, with bitcoin falling to a six-week low of $76,368 and ether dropping more than 3 percent to a two-month low of $2,178.
For comments and feedback contact: editorial@rttnews.com
Business News