Binance, the world’s largest cryptocurrency exchange, disclosed that a security breach had caused an estimated $6.3B in losses, in what the industry is describing as crypto’s biggest-ever hack. Digital tokens dropped.
“The estimated total impact sits at around $6.3B,” Binance said in a post on X. “We have worked with blockchain partners to freeze affected assets, with ~$3 billion frozen on-chain so far.”
“User funds remain safe,” Binance said in a statement. “As a precaution, all deposits and withdrawals are temporarily suspended while our security teams conduct checks, secure wallet infrastructure, and trace affected assets, with the close support of our law enforcement and industry partners.”
The company now expects to…
