NEW YORK TIMES · 2026-10-30 15:14 UTC

What to Know About the Binance Hack

Binance, the world's largest crypto exchange, reported a $6 billion hack on Thursday, attributed by TRM Labs to North Korea's TraderTraitor hacking unit. The company halted withdrawals and pledged to cover customer losses using company funds, with industry partners freezing approximately $3 billion in affected assets. Bitcoin's price dropped several percentage points below $80,000 following the news, though it remains well above summer lows.

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