Hackers steal $6.3 billion from Binance in record heist blamed on North Korea - The Japan Times
Hackers stole $6.3 billion from Binance, the world's biggest cryptocurrency exchange, in a record theft attributed to North Korea, causing cryptocurrency prices to fall.
The breach represents one of the largest cryptocurrency thefts in history, prompting immediate market reactions. Binance operates a secure asset fund for users, including a $1 billion bitcoin reserve designed to protect customer assets during security breaches, according to its website.
Market Response
Following the attack, cryptocurrency prices dropped significantly. Binance immediately suspended withdrawals and announced it would cover all losses suffered by its customers. Approximately half of the stolen assets were quickly frozen by stablecoin issuers including Tether, Circle and the Trump-backed World Liberty Financial.
This was a complex attack, and we are doing all we can in coordination with law enforcement to resolve it.
Related
