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Binance suffered a hack in which an estimated $6.3 billion in assets was stolen in less than 20 minutes. Hackers exploited a breach of a development engineer’s laptop to execute a malicious authorization command and withdraw Ethereum and USDT from hot wallets. Security reports pointed to possible links with North Korean-backed hacking groups. The platform coordinated with stablecoin issuers and blockchain networks to freeze about $3 billion, while the remaining $3.3 billion was still being tracked. Withdrawals were temporarily suspended. Binance pledged to cover the losses using its emergency fund and other resources, assuring users that their funds would not be affected.
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