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.

    • L501@lemmy.worldEnglish
      2·
      22 hours ago

      Anyone keeping their money in exchanges is a moron. But with that said, I keep a decent amount of money in a few monero wallets since I use monero to pay for mullvad because there are laws being written in my state which may make vpns illegal in the future as part of age assurance laws.

      • SpookyBogMonster@lemmy.mlEnglish
        3·
        22 hours ago

        And that’s fair, I think. I’ve considered keeping some money in Monero wallets in case I need to buy grey market HRT.

        What gets me, is people dumping their entire savings into exchanges and essentially speculating on a highly volatile thing like cryptocurrency.