Binance says customer losses will be covered after record $6.3 billion crypto theft
Hackers stole about $6.3 billion in digital assets from Binance on October 29, carrying out what has been described as the largest cryptocurrency theft on record. Most of the assets were drained from wallets across 10 blockchain networks in a roughly 20-minute period.
Binance initially said a compromised laptop may have enabled the attack, but later said its investigation had uncovered additional breach points without providing details. TRM Labs said the attackers compromised infrastructure used to authorize transactions, allowing them to issue apparently legitimate withdrawal instructions without obtaining Binance’s master private keys.
Cryptocurrency companies and blockchain operators froze roughly half of the stolen assets, including stablecoins issued by Tether and Circle. TRM estimated that the attackers retained control of about $2.4 billion in bitcoin and ether. Some stolen …