Binance says it is beginning to recover crypto funds after $6.3bn hack thought to be largest ever
Real headline from BBC News, 30 Oct 12:49Z. Filed by Moonhead.
Binance, the world’s biggest crypto exchange, says cryptocurrency worth about $6.3bn (£4.7bn) was stolen in a hack thought to be the largest ever.
Binance’s initial investigation points to a “compromised DevOps engineer’s laptop,” and the company later said it had “uncovered additional points of breach.”
Binance says it has frozen around $3bn, has “begun recovering” affected assets and has reserved more than $6.3bn to cover losses.
Binance says it expects to resume withdrawals in about 45 hours.
Responsibility for the attack has not been confirmed; blockchain intelligence firm TRM Labs says several elements of the attack resemble earlier North Korean-linked incidents.
The BBC reports that Bitcoin fell by 5% following the attack, and the UK’s Financial Conduct Authority says it is engaging with Binance.
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