THE NATIONAL · 2026-10-30 06:52 UTC

Binance pledges to cover $6.3bn hack losses after massive crypto theft

Binance suffered a $6.3 billion security breach and pledged to cover all customer losses from its SAFU fund and company reserves. Approximately $3 billion in affected assets were frozen on-chain; Bitcoin fell 4.5% to $76,664, Ether dropped 5.2%, and BNB slid 7.1% following the incident. Initial investigation suggests the breach originated from a compromised DevOps engineer's laptop; Binance found no evidence of leaked wallet private keys.

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