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.

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[–] 8 points 10 hours ago (2 children)

The whole idea of crypto was to cut out the banks. So the idiots holding their assets on an exchange like Binance (or FTX if anyone remembers those thieves) are just that, idiots.

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