Binance Uncovers Multiple Breach Points in $6.3 B Hack, Freezes 30% of Assets
Binance estimates the Thursday security incident cost about $6.3 billion, with roughly $3 billion of the affected assets now frozen on‑chain. Initial investigations linked the breach to a compromised DevOps engineer’s laptop, but further analysis revealed additional points of entry. The exchange has reopened deposits while withdrawals remain suspended, and it will cover all losses from its SAFU emergency reserve and company funds. Binance CEO Richard Teng said the attack was complex and not attributable to a single individual, and the firm is working with law enforcement and blockchain intelligence partners to trace and recover the stolen funds.
The incident highlights the evolving sophistication of cyber attacks on major crypto exchanges and the importance of robust security protocols and emergency reserves for protecting user assets.
Source: Decrypt · decrypt.co