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Merged Bitcoin - Part 3

Cryptocurrency giant Binance has said that $6.3bn (£4.7bn) of digital assets have been impacted by what could be the largest hack in history.

The world's biggest crypto exchange says about half of those assets had been frozen but that many remained in the hands of the hackers, adding that it will "cover all losses".

Early checks show the incident may have involved an engineer's laptop that had been compromised, which allowed an attacker to make unauthorised withdrawals, Binance says.

Two analytics firms have attributed the incident, which eclipses a record-setting $1.5bn hack on the Bybit exchange in 2025, to a North Korean hacking unit called TraderTraitor.

 
self custody isn’t safe, the biggest crypto exchanges aren’t safe. centralized stablecoins are freezable preventing roughly half of this hack from being fully stolen, the decentralized coins are north korean
 

Binance said it would cover all losses from the company’s funds and an emergency assets fund, adding “user funds are safe.” The crypto exchange said it had temporarily suspended deposits and withdrawals to allow security checks to be completed and blockchain intelligence partners to trace and recover funds. The crypto exchange expects withdrawal services to resume by Sunday morning.

binance is guaranteeing the money with an emergency asset fund. i'm sure that puts everyone's mind at ease coming from the crypto exchange that just lost a few billion dollars it can never get back. i mean, they're not insured so idk, i guess they just have billions of extra dollars.
 

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