CNN · 2026-10-30 20:09 UTC

Hackers just stole $6 billion in crypto. It's not the first time, and it won't be the last

Binance, the world's largest crypto exchange, lost over $6 billion in a hack on Thursday, with about half in stablecoins that were frozen and the other half in bitcoin and ether likely unrecoverable. Binance's losses could reach $3 billion and the company pledged to cover them with emergency reserves; separately, Polymarket suffered a second hack since June with 700 users losing $2.7 million. Security experts warn that covering customer losses through reimbursement is not a sustainable long-term strategy, and centralized exchanges remain high-value targets because they operate outside strict…

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