Binance posts $3.6B outflow after $6.3B hack and pledges refunds
Business
Binance just faced a massive blow. After a record-breaking $6.3 billion crypto hack allegedly linked to North Korean hackers, Binance posted a net outflow of $3.6 billion in cryptoassets after restoring customer withdrawals.
Even so, Binance says everyone affected will get their money back, aiming to keep user trust strong.
Binance replaces 95% of stolen funds
Right after the breach, Binance paused withdrawals to investigate but has since restarted them for major tokens like Ether and USDT.
Impressively, they've already replaced about 95% of the stolen funds using their reserves and insurance.
The whole episode is a wake-up call about growing cyber threats in crypto and why stronger security matters more than ever.