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…
On Friday, Binance, the world's largest cryptocurrency exchange, disclosed that hackers had stolen more than $6 billion in what appears to be the biggest cryptocurrency heist on record. Blockchain firms have suggested the attack originated from a North Korean hacking unit. The company allocated over $6.34 billion of its funds to cover the stolen assets and began working on recovering assets for users.
Binance collaborated with blockchain partners to freeze around $3 billion in affected assets. The exchange has pledged to cover all losses and has regularly updated its social media channels as it gathers more information about the hack. Binance's co-CEO, Richard Teng, stated in a video posted to X, "We are working nonstop to resolve this."
At a White House briefing with reporters, President Donald Trump announced that U.S. officials were investigating the Binance hack. When asked about North Korean involvement, Trump replied, "We're looking at 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.
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