Largest crypto exchange freezes US$3 billion after suspected hack

Binance reported a $6B hack, causing a crypto market crash. Bitcoin dropped to $76,350, Ethereum fell 3%, and BNB declined 4%. $1.5B in positions were liquidated, mostly longs. Some alts, like ZEC and XMR, rose.

Bitcoin and Ethereum prices fell sharply after a $6.3 billion hack on Binance, the world's largest cryptocurrency exchange. Binance stated that user funds are safe and losses will be covered. The hack involved unauthorized withdrawal transactions, with about $3 billion in assets frozen. Bitcoin and Ethereum dropped over 3%, hitting six-week lows.

Binance froze $3bn in assets to prevent theft during a security investigation, suspending deposits and withdrawals. According to the company, all losses will be covered. Tether and Circle also froze about $2.4bn in assets. Bitcoin and other major cryptocurrencies dropped sharply. The scale of the attack remains unclear.

Binance confirmed a security breach, estimating $6.3 billion in total impact, one of the largest crypto thefts on record. The exchange halted withdrawals and assured users funds are safe, covering losses from the SAFU fund. Bitcoin dropped to $76,301 before recovering slightly. Binance is working with partners to freeze affected assets and investigate the incident.

Bitcoin and other cryptocurrencies fell after Binance, the world's largest crypto exchange, reported a security breach involving about $6.3 billion in assets. Bitcoin dropped 4.5% to $76,664 before partially recovering. Binance will cover all losses, and deposits/withdrawals remain suspended. Analysts noted the market-wide impact and the freezing of about $3 billion in assets.

Binance reported a security incident with an estimated $6.3B impact, freezing $3B in assets. The exchange suspended transactions temporarily and pledged to cover user losses. Initial findings suggest a compromised laptop may have led to unauthorized withdrawals. Bitcoin and Ether prices fell 2% following the news.