Bitcoin, cryptocurrency prices fall after Binance reports security issue
Stablecoin issuers froze more than $2 billion as Binance said it was investigating a potential hack and paused withdrawals.
- On Friday, Binance temporarily suspended deposits and withdrawals following a major security breach estimated at $6.3 billion, potentially the largest cryptocurrency heist in history.
- Binance's initial investigation suggests a compromised DevOps engineer's laptop allowed an attacker to gain access to a service container and submit unauthorized withdrawals; the company found no evidence of wallet private key compromise.
- Blockchain partners froze approximately $3 billion in affected assets, with Tether freezing nearly $1.57 billion, Circle more than $800 million, and Ripple roughly $200 million in coordinated response.
- Co-CEO Yi She confirmed Binance will cover "all hacking losses" through its Secure Asset Fund for Users , stating "Safety first: withdrawals are currently disabled until the environment is confirmed to be secure."
- Markets reacted immediately in early Asian trading Friday, with Bitcoin falling roughly 2% and BNB declining more than 8% over 24 hours as analysts warn the breach could prompt investors to reassess centralized exchange safety.
151 Articles
151 Articles
Binance Confirms Hack: $6.3 Billion Affected
'The estimated total impact sits at around $6.3B,' Binance said in a tweet. Early signs indicate the hacker may have compromised an engineer's laptop to gain internal access. UPDATE: Binance has confirmed the hack, and says the incident may have occurred through an employee's compromised laptop, enabling the attacker to drain as much as $6.3 billion in cryptocurrency funds. "Binance's initial investigation suggests that the security incident may…
The Binance cryptocurrency platform reported, this Thursday, that it was the victim of a major hacker attack, which led to the freezing of more than $2.5 billion (about R$13.46 billion) to prevent them being stolen. The company — the largest cryptocurrency trading platform in the world in daily volume of operations — reported that it suspended the trading of certain products and ensured that users' funds "are completely safe." However, several e…
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