In brief
- Attackers stole roughly $6.4 billion from Binance on Thursday in the largest crypto hack ever, more than four times the previous record.
- Binance says it will cover all losses with company funds and its emergency reserve, having set aside more than $6.34 billion.
- Here’s how it happened and what’s being done about it.
Crypto just suffered the largest hack in its history.
On Thursday, attackers drained roughly $6.4 billion from Binance, the world’s largest cryptocurrency exchange, in a breach that dwarfs every theft before it and has triggered a cross-border law-enforcement investigation, a scramble by stablecoin issuers to freeze funds, and a tense wait for millions of users.
Here’s what’s known about the Binance hack so far.
