Binance suspends withdrawals and freezes funds amid $6.3bn hack

What happened: Binance said it temporarily suspended all withdrawals and deposits after a major hacking incident on Friday involving an estimated $6.3 billion. Key numbers: Estimated $6.3 billion involved in the hack. Bitcoin price fell over 4% after the announcement. Why it matters: The report describes the crypto hack as potentially the largest ever. Binance said it could freeze additional funds while working with law enforcement and industry partners to trace assets. Coverage: 5 outlets in 24h

Binance said it temporarily suspended all withdrawals and deposits after a major hacking incident on Friday involving an estimated $6.3 billion.

The report describes the crypto hack as potentially the largest ever. Binance said it could freeze additional funds while working with law enforcement and industry partners to trace assets.