A closer look at “Binance’s Record $6.3B Hack: How the Breach Unfolded and Exchange’s Response”, exactly as the source publishes it. The cryptocurrency world was shaken by the largest exchange hack in history, as Binance suffered a breach totaling $6.3 billion. Cointelegraph’s live coverage tracked the unfolding events from the first reports of suspicious transactions to the exchange’s public response. The attack targeted Binance’s hot wallets, which hold a small percentage of user funds for daily trading, but the sheer scale of the theft set a new and alarming benchmark for crypto security failures.
Binance CEO Changpeng Zhao quickly moved to reassure users, announcing that the exchange would cover all losses through its Secure Asset Fund for Users (SAFU), an emergency insurance fund established in 2018. This pledge meant that no user funds would be affected, a critical step in maintaining trust during a crisis. This listing links straight to the original page, where the content is available in full.