BLOOMBERG LAW · 2026-11-03 12:54 UTC

How Hackers Steal Crypto and Where It Goes: Explainer (Correct)

Binance, the world's largest crypto exchange, suspended withdrawals after a security breach affecting an estimated $6.3 billion in funds. Crypto exchanges are frequent hacking targets due to their control of large asset pools that can be rapidly transferred with anonymity. Cyberattacks have exposed decentralization as a vulnerability rather than a strength in the crypto industry.

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