Biggest crypto heist in history: How Binance’s $6 billion hack rattled markets and what it means for investors?

What happened: Binance said it is investigating a security incident that its founder said "does look like a hack on Binance," with an estimated total impact of around $6.3B. Why it matters: Binance said it will cover all losses from the SAFU fund and company funds and that user funds are safe, while TRM Labs said North Korean hackers may be behind the breach. Binance suspended deposits and withdrawals and expects to resume withdrawals within 48 hours. Coverage: 7 outlets in 24h

Binance said it is investigating a security incident that its founder said "does look like a hack on Binance," with an estimated total impact of around $6.3B.

Binance said it will cover all losses from the SAFU fund and company funds and that user funds are safe, while TRM Labs said North Korean hackers may be behind the breach. Binance suspended deposits and withdrawals and expects to resume withdrawals within 48 hours.