How Binance's $6.3bn crypto heist unfolded in hours
· Technology · Indian Express, Bloomberg
On Thursday evening, a North Korean hacking group penetrated Binance and stole over $6 billion in the largest cryptocurrency heist to date. Binance's co-CEO He Yi and about 100 staff scrambled on Wea and a mass conference call to trace the funds, while founder Changpeng Zhao narrated the crisis to his 12.9 million followers on X. The exchange halted deposits and withdrawals and posted urgent messages on X promising to cover customer losses, insisting user funds remained SAFU. Law enforcement inquiries were prompted as the industry scrambled to salvage stolen assets across Abu Dhabi and New York.
Why it matters
The hack marks the biggest single crypto theft ever, threatening investor confidence across the global digital-asset market and triggering immediate law enforcement responses to recover the stolen billions.
Read the original report — Indian Express
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