Key Points
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Hackers stole around $6.3 billion in funds from Binance on the night of Oct. 29.
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Stablecoin issuers were able to prevent some of that money from fully escaping.
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This event only bolsters the case for cybersecurity being an important factor for crypto investments.
Batten down the hatches, because trouble is here. Binance, the world’s largest crypto exchange, said on the evening of Oct. 29 that hackers had stolen about $6.3 billion from its coffers. That means it just experienced the biggest crypto hack in history, and perhaps even the biggest heist in history, period.
The market’s response has been predictably sour. Bitcoin(CRYPTO: BTC) lost 5.6% within 24 hours of the hack being announced, while BNB(CRYPTO: BNB), the native coin of…
