Binance estimates $6.3B impact from security breach, freezes $3B in crypto assets
The exchange has frozen $3 billion in assets and suspended deposits and withdrawals as a precaution. Binance intends to cover all user losses via its Secure Asset Fund for Users (SAFU) and company funds. A full technical post-mortem will be released following the completion of the investigation.
Key points
- Estimated $6.3 billion total impact from the security incident
- Attack likely originated from a compromised laptop of a DevOps engineer
- Binance will use SAFU and company funds to cover all user losses
- Deposits and withdrawals are temporarily suspended for security checks
Summary and key points written by AI from the headline and a short excerpt, so they can be incomplete or wrong. YourStory did the reporting; read the original for the full story.
Read the full story at YourStory
