Binance covers ninety percent of losses after six billion dollar hack
Cryptocurrency exchange Binance has covered 90 percent of the 6.3 billion dollars stolen in a recent security breach that United States officials attribute to North Korea.
FTMQ World, written by our newsroom0 views
Cryptocurrency exchange Binance announced on Saturday that it has replenished 90 percent of the 6.3 billion dollars stolen in a security breach on Thursday, BBC News World and multiple media outlets reported. The company stated that it will absorb the financial impact using its own funds rather than passing losses to customers. [1][2][3][4][5][6]
The Federal Bureau of Investigation said on Saturday that North Korea was responsible for the cyberattack, according to BBC News World and the New York Post. Binance described the event as suspected to be the largest cryptocurrency hack on record. [1][4]
Binance has set aside more than 6.34 billion dollars in company funds and pledged to cover all of the losses, BBC News World reported. The company added that sourcing the remaining 10 percent of assets in the required amounts may take longer. [1]
Binance was founded in 2017 by Changpeng Zhao and has grown into the largest cryptocurrency exchange by daily trading volume. It was initially based in China before relocating several times, and it currently operates without an official corporate headquarters. [8][9]
In short
- Binance has replenished 90 percent of the 6.3 billion dollars stolen in a major security breach.
- The Federal Bureau of Investigation stated that North Korea was responsible for the hack.
- Binance set aside over 6.34 billion dollars in internal funds to cover all customer losses.
- The attack is suspected to be the largest recorded hack in cryptocurrency history.
Sources
Every paragraph above points to the numbered items it rests on. Read the originals here.
- [1]Crypto firm Binance covers 90% of losses after $6.3bn hackBBC News World, 4h ago (the report this story comes from)
- [2]Binance says it has replaced 90% of $6.3 billion stolen in record crypto hackYahoo Finance Australia, 9h ago
- [3]Binance says 90% of stolen crypto assets replenished after $6.3 billion security breachTradingView, 11h ago
- [4]Binance has already refunded 90% of the $6.3 billion stolen by North Korean hackersNew York Post, 9h ago
- [5]Binance Replenishes 90% Of Stolen Crypto Assets, Targets November 1 Withdrawals: 13 outlets comparedNewsCord, 9h ago
- [6]Binance Confirms It Has Replenished 90% of the Losses From the $6.3B HackCoinGape, 8h ago
Background
Our newsroom writes these reports with the help of software, from the 9 sources listed and nothing else, and checks them against those sources. Facts can still be wrong or move on; the originals are the record. Spotted a mistake? Write to daniel@monsterkong.com.
More in Top World News
- Clashes erupt in Germany as tens of thousands join youth protests2h ago
- Hundreds of thousands protest high living costs across France2h ago
- Federal judge dismisses Donald Trump defamation lawsuit against Wall Street Journal2h ago
- Senegal Hosts Africa First Youth Olympic Games in Dakar1d ago
- Hundreds evacuated from Ukrainian town of Oleshky during rare ceasefire1d ago
- Thai lawyer Arnon Nampa faces 34 years in prison for royal criticism1d ago
Get the day in one email
Reports like this one, the top news of the last 24 hours, every morning. Free, one email a day; readers can comment under every report.
By signing up you agree to our terms and privacy policy. Unsubscribe any time.
Comments
Loading
Join the conversation
Comments are open to readers of our daily email: the top news of the last 24 hours, every morning, free. Sign up and the comment box opens.
Already on the list? Enter the same address and we will send a sign-in link.
By signing up you agree to our terms and privacy policy. Unsubscribe any time.