How Much Would It Take to Bankrupt Binance? The $6 Billion Hack Explained

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Binance lost $6.3 billion in the biggest crypto hack ever. How much would it take to bankrupt the exchange, and what does it mean for the crypto market?Add as a preferred source on GoogleFollow on Google NewsSix billion dollars gone in a single afternoon, and Binance says nobody loses a cent. That is the headline from Thursday, October 29, when the world’s largest crypto exchange was drained of roughly $6.3 billion in the biggest hack the industry has ever seen. The obvious question is not whether the money is gone. It is how much it would actually take to bankrupt Binance, and whether this hack came anywhere close.To answer that, you need three numbers: what was stolen, what Binance can absorb, and what it would take to break the trust that keeps a centralized exchange alive.How Much Did Binance Lose in the Hack?Binance puts the total impact at around $6.3 billion, with about $3 billion already frozen on-chain. Deposits and withdrawals were suspended while the exchange works wi...