{
  "id": 17168092,
  "title": "Binance pledges to cover losses after US$6 billion crypto hack",
  "url": "https://urgent.news/2026/10/30/binance-pledges-to-cover-losses-after-us-6-billion-crypto-hack",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-30T03:26:14.000Z",
  "source": {
    "name": "SCMP Business",
    "slug": "scmp-business",
    "url": "https://www.scmp.com/business/cryptocurrency/article/3372664/binance-pledges-cover-losses-after-us6-billion-crypto-hack"
  },
  "original_language": "en",
  "account": null,
  "summary": "Binance, the world's largest cryptocurrency exchange by trading volume, has pledged to cover all losses from a hack that drained around US$6.3 billion from its wallet, making it the biggest crypto theft on record. The exchange suspended all deposits and withdrawals while it conducts security checks, freezes funds, and works with law enforcement. Binance founder Changpeng Zhao expressed confidence that user funds would be fully covered and highlighted the security risks of centralized exchanges amid AI development.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 8,
    "also_reported_by": [
      {
        "outlet": "Cointelegraph",
        "title": "Binance files for Brazil crypto license ahead of Friday deadline",
        "url": "https://urgent.news/2026/10/27/binance-files-for-brazil-crypto-license-ahead-of-friday-deadline",
        "published": "2026-10-27T08:04:21.000Z"
      },
      {
        "outlet": "Euromaidan Press",
        "title": "Russian court jails IT company director for 13 years over crypto donations after Binance shared his data, rights group says",
        "url": "https://urgent.news/2026/10/27/russian-court-jails-it-company-director-for-13-years-over-crypto",
        "published": "2026-10-27T15:32:02.000Z"
      },
      {
        "outlet": "TechCrunch",
        "title": "Binance pauses withdrawals as hackers suspected of stealing billions in crypto",
        "url": "https://urgent.news/2026/10/29/binance-pauses-withdrawals-as-hackers-suspected-of-stealing-billions",
        "published": "2026-10-29T22:27:23.000Z"
      },
      {
        "outlet": "Mashable",
        "title": "Binance has reportedly been hacked, billions in crypto stolen",
        "url": "https://urgent.news/2026/10/30/binance-has-reportedly-been-hacked-billions-in-crypto-stolen",
        "published": "2026-10-30T00:19:42.000Z"
      },
      {
        "outlet": "DW English (Top Stories)",
        "title": "Binance crypto platform suspends trades amid suspected hack",
        "url": "https://urgent.news/2026/10/30/binance-crypto-platform-suspends-trades-amid-suspected-hack",
        "published": "2026-10-30T00:55:00.000Z"
      },
      {
        "outlet": "BBC Technology",
        "title": "Crypto giant Binance freezes $2.5bn of assets over suspected hack",
        "url": "https://urgent.news/2026/10/30/crypto-giant-binance-freezes-2-5bn-of-assets-over-suspected-hack",
        "published": "2026-10-30T00:59:04.000Z"
      },
      {
        "outlet": "Toronto Sun",
        "title": "Crypto platform Binance confirms major hack, more than $2.5B in funds frozen",
        "url": "https://urgent.news/2026/10/30/crypto-platform-binance-confirms-major-hack-more-than-2-5b-in-funds",
        "published": "2026-10-30T02:20:10.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}