Binance hit by approximately $6.3 billion hack, CZ asks Musk to stop mocking
CZ tells Musk 'bad time to troll' amid $6.3 billion Binance hack
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Binance co-founder CZ asked Elon Musk to stop publicly mocking the exchange and offer support after a hack that Binance estimates caused approximately $6.3 billion in losses. Binance said the attack was not the result of a single engineer’s permissions or a single operation, and that it has frozen approximately $3 billion of the stolen funds on-chain and will cover the losses through SAFU and company reserves. Deposits have been restored, while withdrawals remain suspended; the exchange said it expects to reopen them after 45 hours.
The article also traces how the reported entry point expanded from a single-device account to multiple points of compromise, as well as the arrangements for freezing funds, restoring withdrawals, and covering the losses, making it easier to assess the progress of the response.
Source:Cryptopolitan · cryptopolitan.com