THE NATIONAL · 2026-11-06 04:07 UTC

The real lesson from the Binance heist goes beyond crypto

Binance, the world's largest crypto exchange, froze deposits and withdrawals after a security incident that was later labelled a $6.3 billion heist, reckoned the biggest theft by dollar value in history. The attack followed the compromise of an exchange engineer's laptop, with hackers submitting unauthorised withdrawal transactions; Binance attributed it to a North Korean group, a claim state officials denied. Binance reinstated withdrawals, said it had covered about 95 per cent of the affected amount, and said user funds remained safe; BTC fell below $77,000, Ether to $2,200 and BNB hovered…

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