Binance exchange says it will cover customer losses as it scrambles to freeze affected assets, with about $3bn located so far
The world’s largest cryptocurrency exchange has been hit by a record $6.3bn (£4.7bn) hack described as the biggest heist in history, with experts identifying North Korea as the likely culprit.
Binance said it would cover all customer losses as it froze $3bn of the affected assets.
Analysts said the exchange had been subjected to an unprecedented attack with “never-seen-before” laundering patterns as the hackers made off with assets worth billions of dollars.
The whole idea of crypto was to cut out the banks. So the idiots holding their assets on an exchange like Binance (or FTX if anyone remembers those thieves) are just that, idiots.
Who would have thought a bunch of neckbeard tech nerds wouldn’t be able to reinvent the banking system? It’s almost like there’s a constant thread in IT of rampant libertarian nonsense from a bunch of predominantly white men high on their own supply.
I say this as someone with over a quarter century in corporate IT. It’s gotten better but my god the delusional level of tech evangalism from all angles is almost non-stop. The current flavour is AI but previously it was RP and before that it was block chain and before that it was noSQL.
Everything amounts to some mouth breather going “I can make it better than the tried and true system that has existed for decades or centuries”
Fucking hubris man. Constantly looking for problems for their “solutions”
I do at least get the idea of very temporarily passing the money through a currency exchange. But not it sitting long enough and trusted enough for hackers to steam $6B of it. Why in the world would anyone do that
Because they’re speculating and have open orders.