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Binance covers 90% of $6.3 billion hack losses, plans to resume withdrawals Sunday
Binance said it has restored backing for 90% of assets affected by its $6.3 billion hack. It plans to resume withdrawals Sunday, subject to security checks. Two analytics firms point to a North Korea-backed group. About $3 billion was frozen earlier.
Why it matters
It is the largest crypto theft recorded and has raised concerns about the safety of funds on exchanges.
Background
Binance is the world's largest crypto exchange. North Korea-linked hackers have been blamed for earlier large thefts, which North Korea denies funding programs from.
The story so far
- Binance says $6.3 billion hack is largest crypto theft
- Binance covers 90% of $6.3 billion hack losses, plans to resume withdrawals Sunday
- Binance resumes withdrawals after $6.3 billion hack blamed on North Korea
- Binance says fake job interview led to $6.3bn hack
- Binance details fake job interviews behind hack
Sources
- CNBC ↗Oct 31, 12:06 PM ET
- BBC News ↗Oct 31, 12:32 PM ET
- The National ↗Oct 31, 12:58 PM ET
This summary was written automatically from the reporting linked above; follow the sources for the full story. How One Turn works.