Binance, the world's largest cryptocurrency exchange, suffered a massive hack that resulted in the theft of $6.3 billion—the largest heist in the sector's history. Attackers compromised an employee's laptop, gaining access to transfer funds from the exchange's wallets.
The breach prompted Binance to immediately suspend withdrawals and freeze affected assets. The company has recovered approximately $3 billion of the stolen funds so far. The total loss exceeds Binance's $1 billion insurance fund for security incidents, but the exchange has committed to using its own resources to cover customer losses.