Binance probes possible $5.7 billion crypto hack, possibly the biggest in history — SkimNews
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- Binance is investigating what could be the biggest crypto hack in history after users saw upwards of $5.7 billion drained from wallets Thursday afternoon.
- TechCrunch reported that Binance paused withdrawals as hackers were suspected of stealing billions in crypto.
Why it matters: For Binance customers, TechCrunch reports the practical consequence was a pause in withdrawals during the suspected theft. The up-to-$5.7 billion Thursday-afternoon loss is potentially the largest in crypto history and follows a wave of high-profile cyberattacks and data breaches, placing the incident within a broader run of security incidents.
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