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.
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.
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.