Binance hackers stole $6.3 billion in record-breaking crypto heist

Binance says it will cover all losses resulting from the hack. | Image: Cath Virginia / The Verge, Turbosquid Binance has disclosed that $6.3 billion worth of crypto funds have been stolen from the platform, in what's believed to be the biggest cryptocurrency hack on record. In a series of updates posted to X, the crypto exchange said that user funds are safe, and that around $3 billion of the impacted assets have been frozen so far. Binance has publicly committed to covering any losses resulting from the hack. The company has an emergency reserve fund of around $1.3 billion (at last valuation) to protect user assets in these situations, and said it has also reserved over $6.34 billion of company funds to cover this incident - $5 billion of which … Read the full story at The Verge.