🚨 Binance lost $5.7 billion in the largest hack in crypto history
On Thursday, Binance was exploited for more than $5 billion. By one estimate, the attacker’s wallet holds $5.7 billion in stolen assets: about $1.5 billion in bitcoin, $900 million in ether, and $1.4 billion in USDT and USDC combined. The exchange itself is still cautious. It said its teams are aware of reports of a potential security issue and are investigating. Binance founder Changpeng Zhao wrote that user funds are safe, that it does look like a hack on Binance, and that he no longer runs the exchange but, as a shareholder, expects client losses to be fully covered.
Part of the stablecoins has already been stopped. Tether froze more than $1.57 billion in USDT, and Circle froze more than $800 million in USDC. The attacker also borrowed 20,000 wrapped ETH, worth roughly $44 million, through Aave, using stolen USDT as collateral.
The market reacted immediately. Bitcoin fell about 3% to $78,800, ether about 4%, BNB 6.7%, and AAVE 8%. It was the second hack of the day: earlier on Thursday a third-party breach hit Polymarket, though losses there were under $3 million. How the Binance exploit actually happened is still unclear, and the exchange has not officially confirmed the full size of the loss.
#BINANCE #BNB #BinanceWillListPredictPREDICT $BNB $ETH $BTC
On Thursday, Binance was exploited for more than $5 billion. By one estimate, the attacker’s wallet holds $5.7 billion in stolen assets: about $1.5 billion in bitcoin, $900 million in ether, and $1.4 billion in USDT and USDC combined. The exchange itself is still cautious. It said its teams are aware of reports of a potential security issue and are investigating. Binance founder Changpeng Zhao wrote that user funds are safe, that it does look like a hack on Binance, and that he no longer runs the exchange but, as a shareholder, expects client losses to be fully covered.
Part of the stablecoins has already been stopped. Tether froze more than $1.57 billion in USDT, and Circle froze more than $800 million in USDC. The attacker also borrowed 20,000 wrapped ETH, worth roughly $44 million, through Aave, using stolen USDT as collateral.
The market reacted immediately. Bitcoin fell about 3% to $78,800, ether about 4%, BNB 6.7%, and AAVE 8%. It was the second hack of the day: earlier on Thursday a third-party breach hit Polymarket, though losses there were under $3 million. How the Binance exploit actually happened is still unclear, and the exchange has not officially confirmed the full size of the loss.
#BINANCE #BNB #BinanceWillListPredictPREDICT $BNB $ETH $BTC