Binance hackers stole $6.3 billion in record-breaking crypto heist
· The Verge
Binance says it will cover all loses resulting from the hack. | Image: Cath Virginia / The Verge, Turbosquid
Binance has disclosed that $6.3 billion worth of crypto funds have been stolen from the platform, in what's believed to be the biggest cryptocurrency hack on record. In a series of updates posted to X, the crypto exchange said that user funds are safe, and that around $3 billion of the impacted assets have been frozen so far.
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Binance has publicly committed to covering any losses resulting from the hack. The company has an emergency reserve fund of around $1.3 billion (at last valuation) to protect user assets in these situations, and said it has also reserved over $6.34 billion of company funds to cover this incident - $5 billion of which …