Binance suspends withdrawals and freezes funds after $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, potentially the largest cryptocurrency heist in history. Key numbers: Estimated $6.3 billion involved; incident occurred on Friday. Why it matters: Bitcoin's price tumbled on what may be the biggest cryptocurrency theft ever. Binance said it could freeze additional funds while working with law enforcement, token issuers, blockchain intelligence firms and other industry partners to trace and freeze assets. Coverage: 11 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, potentially the largest cryptocurrency heist in history.

Bitcoin's price tumbled on what may be the biggest cryptocurrency theft ever. Binance said it could freeze additional funds while working with law enforcement, token issuers, blockchain intelligence firms and other industry partners to trace and freeze assets.