Binance confirms $6.3 billion hack, freezes $3 billion, pledges full reimbursement
Binance said a security breach resulted in an estimated $6. 3 billion loss, with about $3 billion of assets frozen, and the exchange pledged to reimburse all users. CBC reported that a U. S. blockchain-intelligence firm linked the theft to North Korea’s TraderTraitor unit.
Earlier reports traced more than $5. 5 billion moving out of Binance’s hot wallets, prompting the platform to suspend withdrawals on several networks and halt all deposits and withdrawals. Stablecoin issuers Circle and Tether froze roughly $1. 8 billion of assets, while the attacker used DeFi protocols such as Uniswap and Aave to convert frozen stablecoins into Ethereum. Analysts described the incident as the largest cryptocurrency theft to date.