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.
Something like this was inevitable when people accepted being so complicit in crowdsourcing financing heavily biased towards the black market. Presumably the “never-seen-before” laundering patterns were actually the well known crypto money laundering efforts that exist that just trade and launder the pilfered crypto via high speed high frequency trading for “legit” blocks.