Binance hack: What happened and where the $6.3 billion went

Binance has promised to cover every customer loss after a breach it estimates affected $6.3 billion. Its recovery effort now involves several different processes, from stablecoin freezes to tracing assets that no token issuer can block. Summary Binance estimates that the October 29 breach affected approximately $6.3 billion. The exchange says partners have frozen roughly $3 billion in affected assets. TRM Labs traced transfers across 10 blockchains and values the original outflows at $6.36 billion. Blockaid identified 50 Ethereum authorizations in a transaction targeting Binance 14. Binance has pledged to cover losses through 2 sources, its SAFU fund and company funds. Binance has estimated that $6.3 billion in cryptocurrency was affected by its October 29 breach and pledged to cover all losses while partners have frozen roughly $3 billion. Binance’s security update says its preliminary investigation points to a compromised DevOps engineer’s laptop that may have allowed access to an internal service container and the submission of unauthorized withdrawals. JUST IN: Analysts link the $6.3B Binance exploit to North Korea’s hacking networkTRM Labs, Chainalysis and Singapore’s Pangolin...