A hacker enabled unauthorized withdrawals, and Binance will cover all losses using the SAFU fund and company funds. (coingape)
Binance froze about $3 billion in stolen funds with help from other companies, and withdrawals may resume soon. (newsbytesapp)
Chainalysis said the attack was likely carried out by a North Korean group called TraderTraitor. This is still a suspicion, not a final conclusion, so don’t present it as confirmed fact. (nepm)
The post (copy it and edit it in your own words):
🚨 Binance hack: What actually happened? No exaggeration and no empty reassurances
On October 29, Binance announced a hack estimated at $6.3 billion, described as the largest crypto theft in history.
📌 What we know so far:
• Cause according to Binance: A compromised engineer's laptop enabled unauthorized withdrawals
• Around $3 billion in funds were frozen with the help of Tether, Circle, and others
• Binance said it will cover all losses using its SAFU fund and company funds
• Withdrawals are temporarily suspended and are expected to resume within a day or two
• Some analyses point to a North Korean group, but the investigation is not over
⚠️ What you need to watch out for:
• Treat any message or link offering to “recover your money” as a scam—fraudsters exploit events like this
• Don't give anyone your verification code or personal information
• Enable two-factor authentication and use a security key if you can
💡 The lesson: Even the biggest platforms get hacked, so don't keep all your money in one place. Fear tends to spike when there’s alarming news, so don't make decisions based on emotion or panic-sell.
My personal opinion: [Write your own sentence here, such as: I only follow official updates and don't believe any rumors]
This is for informational purposes only and is not financial advice.
#BinanceReports80%Recoveryof$6.3BillioninLossesfromHackIncident #IntelHasItsWorstDaySince1974
#TRMCambodianCasinosReceived$1.07BInCrypto #ASICHasReceivedNoPredictionMarketApplications