Binance suffers $6.3bn hack blamed on North Korea's TraderTraitor group
Business
Binance, the world's biggest crypto exchange, just got hit by the largest hack in crypto history: $6.3 billion gone.
Investigators say North Korea's TraderTraitor group is behind it, making this a major wake-up call for digital security.
Binance sets aside over $6.34bn
To soften the blow, Binance has set aside more than $6.34 billion to cover losses and has already frozen about $3 billion in assets while working with partners to get more back.
The company says users will be reimbursed and promises regular updates as they sort things out.
Sanctions drive North Korea crypto theft
Experts think North Korea is turning to crypto theft because of tough economic sanctions.
This attack highlights how important strong cybersecurity has become for anyone dealing with digital assets.