Cryptocurrency exchange scrambles to freeze affected assets, with about $3bn located so far, and says it will cover losses

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.

  • northendtrooper@lemmy.caEnglish
    81·
    3 days ago

    If it’s North Korea, and if they get to make use of it, it’d be over 1/6th of their GDP, which is pretty bonkers.

    Kind of amazing when you put it into prospective. What is scarier is that much suddenly cash flow can help them purchase ‘stuff’ for ‘defense’