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Binance hack rattles crypto markets

Binance hack rattles crypto markets

A gold-colored token bearing the Bitcoin symbol.

Cheng Xin | Getty Images News | Getty Images

Bitcoin fell on Friday as concerns over a $6.3 billion hack at cryptocurrency exchange Binance, by far the biggest in crypto on record, rattled digital asset markets.

The world’s largest cryptocurrency fell 4.1% to $77,445.96.

Ether, the second-largest cryptocurrency by market capitalization, dropped 4.4% to $2,229.50 while Binance’s native token, BNB, tumbled 6% to $701.18.

Binance said Friday that a security incident had an estimated impact of $6.3 billion, with around $3 billion in cryptocurrency assets frozen so far, and pledged to cover all losses.

The world’s largest crypto exchange said an initial investigation suggests “the security incident…

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