What to know about the $6.3 bil. hack on Binance, likely the biggest-ever crypto theft
Binance, the world's biggest cryptocurrency exchange, said Friday that hackers stole more than $6 billion in what appears to be the largest cryptocurrency heist on record. Blockchain firms have pointed to the attack coming from a North Korean hacking unit. The company said it has reserved more than $6.34 billion of company funds to cover the stolen assets and was beginning to recover assets for…
Binance, the world's largest cryptocurrency exchange, experienced a massive hack on Friday resulting in the theft of over $6 billion. Blockchain experts suspect North Korean involvement in the attack, which is reportedly the biggest cryptocurrency heist ever recorded. To cover the losses, Binance has set aside more than $6.34 billion in company funds and is actively working to recover user assets.
The exchange collaborated with blockchain partners to freeze approximately $3 billion in affected assets. Binance has assured users that all losses will be covered and has provided regular updates on its social media channels as they gather more information about the hack. Binance's co-CEO, Richard Teng, stated in a video on X, "We are working nonstop to resolve this."
President Donald Trump held a press conference with reporters at the White House, where he confirmed that U.S. officials are investigating the Binance hack. When asked about North Korea's potential involvement, Trump responded, "We are looking into that."
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
