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Binance halts withdrawals after record hack; digital assets, crypto stocks slump

Binance halts withdrawals after record hack; digital assets, crypto stocks slump

Investing.com – Binance suspended withdrawals on Friday after hackers stole $6.3 billion from the cryptocurrency exchange in the biggest heist in the history of the digital asset industry.

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In a statement, the exchange said it was working with partners to freeze about $3 billion in affected assets and stressed that “user funds were safe.” Binance will also cover all losses from its funds.

Withdrawals will remain temporarily suspended until security checks are completed, Binance said. The company expects to resume withdrawals by Sunday.

The…

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