Bitcoin, cryptocurrency prices fall after Binance reports security issue
Stablecoin issuers froze more than $2.4 billion in related assets as Binance said user funds remained safe and withdrawals would resume after checks.
- 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.
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206 Articles
Hackers steal £4.7billion worth of crypto in 'the largest bank heist in human history'
Hackers from North Korea stole $4.7billion from the world's largest cryptocurrency exchange, in what analysts say is the biggest crypto hack ever.The attackers targeted Binance wallets on 10 blockchains and shifted most of the funds in about 20 minutes, analysis firm TRM Labs said in a statement.Binance said it worked with partners to freeze the affected assets, with about £2.2billion located so far. It did not mention the status of the remainin…
Binance, the world's largest cryptocurrency exchange, said it had been the victim of a possible large-scale cyberattack. The company froze approximately $3 billion worth of crypto assets to prevent theft.
The world ' s largest crypto-honey exchange, Binance, officially confirmed a large-scale security incident, which resulted in the theft of some $6.3 billion.
Binance - The world's largest crypto exchange announced that more than $3 billion in assets related to the incident have already been frozen, but according to industry estimates, the volume of assets involved is more than double • Bitcoin price cut
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