Biggest hack in history: Cryptocurrency giant Binance loses $6.3 billion
Cryptocurrency exchange giant Binance has been targeted by a record-breaking $6.3 billion cyber heist, with blockchain intelligence firms linking the attack to North Korea. By Thursday night in the US, a coordinated effort by major crypto platforms successfully froze roughly $3 billion of the stolen assets during a high-stakes race to track and secure the digital funds.
On October 29, Binance.US, the U.S. affiliate of cryptocurrency exchange Binance, reported that it was not affected by the $6.3 billion security incident impacting the parent company. The U.S. exchange emphasized that customer funds are secure and services are operating normally. Binance.US clarified that it operates as an independent platform, distinct from the global Binance exchange, to comply with U.S. regulatory requirements.
The platform has a separate account system, legal responsibilities, and offers different cryptocurrencies and trading features compared to the global exchange. Binance.US stated that the breach involving the global platform did not impact its operations, reiterating the safety of customer funds and the normal functioning of its services.
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- Binance hack: Why its US affiliate is unaffected economictimes.indiatimes.com
