WSJ · 2026-10-30 13:07 UTC

How Binance Is Scrambling to Cover Losses in the Biggest Heist in Crypto History

Binance suffered a $6.3 billion crypto heist, the largest in crypto history, after hackers breached a Binance engineer's laptop and other systems. Tether, Circle, and other crypto firms froze approximately $3 billion of the stolen funds, leaving roughly $3.3 billion still under hacker control. Binance is using its Secure Asset Fund for Users emergency reserve to cover losses that exceeded what the exchange had previously set aside for cyber incidents.

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