Could Binance’s $6.3B hack trigger a wider crypto sell-off?

Binance is looking into a security breach that is estimated to have caused losses of $6.3 billion. It has frozen around $3 billion in assets and has stopped its users from making deposits and withdrawals. But the exchange has not yet determined how much money is lost forever. What Binance says it found According to Binance’s statement on October 30, a laptop of a DevOps engineer has been compromised. The attacker may have made use of it to get access to the service container and initiate unauthorized withdrawals. So far, Binance says it has found no evidence that wallet private keys were exposed. It is not yet clear how much damage has occurred. Binance has estimated the damage from the event at $6.3 billion.

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