Binance Faces $6.3B Hack but Guarantees User Funds

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Binance confirmed the incident but reassured that user funds will be covered in full.

The world’s largest cryptocurrency exchange, by means of both users and trading volume across the board, has been hacked.

According to a recent announcement, the incident “may involve a compromised DevOps engineer’s laptop, which allowed an attacker to gain access to a service container and submit unauthorized withdrawal transactions.” Binance further revealed that they haven’t found any private key leak, pledging to share a detailed technical post-mortem as soon as the investigation is complete.

The exchange further revealed that the total impact, at the time of this writing, sits at around $6.3 billion. That said, together with multiple service providers and blockchain partners, they’ve managed to freeze about $3 billion on-chain at the time of the announcement.

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