Hackers steal $6.3 billion from Binance in record crypto heist

What happened: Binance suspended all withdrawals after a hack it estimated at about $6.3 billion, which TRM Labs linked to a North Korean unit known as TraderTraitor. Key numbers: Estimated total impact about $6.3 billion. About $3 billion of affected assets frozen. Why it matters: TRM Labs said the sums would make it the largest crypto theft on record, and an analyst said things may get a lot worse going forward. Binance said it is buying more tokens to cover the remaining amount, a step that can take longer due to low liquidity. Coverage: 8 outlets in 24h

Binance suspended all withdrawals after a hack it estimated at about $6.3 billion, which TRM Labs linked to a North Korean unit known as TraderTraitor.

TRM Labs said the sums would make it the largest crypto theft on record, and an analyst said things may get a lot worse going forward. Binance said it is buying more tokens to cover the remaining amount, a step that can take longer due to low liquidity.