This Is What Binance Has Done Following $6.3B Hack

Binance co-CEO Richard Teng told the exchange’s customers that the company will cover all losses after a security incident estimated to have impacted $6.3 billion. Additionally, Binance has conceded that the compromised laptop, which was initially blamed for the breach, was not the only factor, as investigators have found additional points of attack. Binance Working With Law Enforcement In an X post, Teng said that the initial investigations suggested that an attacker may have gained access through a DevOps engineer’s compromised laptop, which allowed them to get into a service container and submit unauthorized withdrawals. However, he cautioned against reducing the incident to one employee’s permissions or a single click.

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