Binance customers withdraw $7.4 billion after crypto heist
Binance customers have withdrawn up to $7.4 billion following a massive cryptocurrency heist. While CBS News reports outflows of $7.4 billion, other sources cite figures between $3.6 billion and $4.7 billion. Binance stated these net outflows represent 3% of its total holdings. The exchange froze transactions after the incident. Founder Changpeng Zhao responded to the breach by stating there is no 100% security. Researchers are currently tracing the stolen funds, which are estimated to be between $6.3 billion and $6.4 billion.
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- ✓ Binance customers withdrew funds following a cryptocurrency heist.
- ✓ North Korea denies involvement in the Binance hack.
- ✓ Binance founder Changpeng Zhao stated, "There's no 100% security".
- ✓ Binance froze transactions following the incident.
What changed
New reports specify that Binance considers the net outflows to be 3% of its total holdings.
Live updates
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Binance Customers Withdraw Billions Following Massive Crypto Heist
Binance customers have withdrawn up to $7.4 billion following a massive cryptocurrency heist. While CBS News reports outflows of $7.4 billion, other sources cite figures between $3.6 billion and $4.7 billion. Binance stated these net outflows represent 3% of its total holdings. The exchange froze transactions after the incident. Founder Changpeng Zhao responded to the breach by stating there is no 100% security. Researchers are currently tracing the stolen funds, which are estimated to be between $6.3 billion and $6.4 billion.
Why it matters
This event is described as the largest theft in history. The breach allegedly involved social engineering tactics to compromise a Binance engineer. The scale of the withdrawals indicates significant user concern regarding the security of assets on the platform.
What is confirmed
- Binance customers withdrew funds following a cryptocurrency heist.
- North Korea denies involvement in the Binance hack.
- Binance founder Changpeng Zhao stated, "There's no 100% security".
- Binance froze transactions following the incident.
Still unconfirmed
- North Korea used LinkedIn and fake job interviews to trick a Binance engineer into a $6.3 billion hack.
- The heist totaled $6.4 billion.
- The heist totaled $6.3 billion.
- North Korea is likely behind the hack.
What to watch next
- Verification of the exact total amount stolen
- Confirmation of the perpetrators by international authorities
- Updates on the status of frozen transactions
confidence 70%Sources used for this update (15)
- www.cbsnews.com — CBS News | Breaking news, top stories & today's latest headlines
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- CBS News — Binance customers withdraw more than $4.6 billion after crypto heist
- Reuters — North Korea says claims linking it to Binance heist are 'absurd rhetoric,' KCNA says
- CNBC — North Korea denies links to Binance hack as researchers trace stolen billions
- Elliptic — The largest theft in history: North Korea likely behind the $6.4 billion Binance hack
- Yahoo Finance — Binance founder Changpeng Zhao addresses historic crypto hack: 'There's no 100% security'
- The Washington Post — North Korea denies involvement in $6.3B Binance crypto heist
- Fortune — North Korea used LinkedIn, fake job interviews to trick Binance engineer in $6.3 billion hack
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