'Largest Crypto Hack in History': Binance Loses More Than $6B - CNET
The popular cryptocurrency exchange Binance was hit by hackers this week. The company confirmed on Thursday that attackers gained access to its servers and stole $6.3 billion, with analysts calling it one of the biggest thefts in cryptocurrency history.
Binance said hackers likely used an employee’s laptop to gain access to their servers. The company says it “will cover all losses” for affected traders using its secured reserves and funds. Binance is working with the FBI and US Secret Service on the investigation, Reuters reports. The company has temporarily paused all withdrawals.
Crypto prices fell across the board upon the news of the Binance breach. Cryptocurrency isn’t regulated like other stock markets or banks. Crypto markets are constantly open, and traders “mine” currency using complex computations that use a lot of energy. (If that sounds familiar, it’s because a lot of crypto operations were the blueprint for ...
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