Binance Security Breach: Losses Estimated at $6.3 Billion

Estimated losses from the cyberattack targeting cryptocurrency exchange Binance have reached approximately $6.3 billion, marking what analysts describe as the largest hack in digital asset history, according to reports by Walla, Maariv, and The Guardian. Blockchain analytics firm TRM Labs assessed that North Korean hackers carried out the intrusion, siphoning most of the funds within roughly 20 minutes. According to The Guardian, the breach may have originated from a compromised laptop belonging to a company engineer.

Following the attack, Binance suspended deposits and withdrawals and stated that its teams are working around the clock. Globes reported that more than $3 billion in assets tied to the breach have already been frozen. Concurrently, the South China Morning Post reported that Binance has pledged to cover affected user losses.