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.

  • John@lemmy.mlEnglish
    1·
    2 days ago

    DOAs were/are a cool idea, but they all basically just turned into a way for rich people to get outsized influence on orgs/apps. It totally got gamed.

    I do think there’s value in DAOs somehow, but they way they’re setup now, it just kind of failed. I had some DAO tokens and it always felt so pointless voting. My vote was basically worthless. And, most orgs are too scared to turn on the fee switches for DAO token holders in fear of regulatory action.