Binance Faces Historic Crypto Hack as Emergency Response and Market Fallout Unfold

Binance is investigating a major security breach that reportedly resulted in losses estimated at $6.3 billion, potentially making it the largest cryptocurrency theft on record. The exchange suspects a compromised engineer’s laptop enabled unauthorised withdrawals, although it has found no evidence of leaked wallet private keys. Stablecoin issuers Tether and Circle have frozen billions in assets linked to the incident, while cryptocurrency prices declined following the news. Binance has pledged to cover user losses using its Secure Asset Fund for Users and company funds.
Source: gadgets360-tech