This is what Binance did in the wake of the $6.3B hack Binance Co-CEO Richard Tang announced that the exchange will cover all losses from a security incident estimated to have affected $6.3 billion, stressing that the attack involved multiple points of intrusion and not the actions of a single employee. The company has temporarily halted withdrawals, changed its security measures and is cooperating with law enforcement authorities and online intelligence companies to locate and return stolen funds, when approximately $3 billion has already been frozen. Public reactions to the incident have been mixed, with some praising Binance's transparency while others expressing disbelief, leading to market volatility, including plummeting Bitcoin and Ethereum prices.

This is what Binance did in the wake of the $6.3B hack Binance Co-CEO Richard Tang announced that the exchange will cover all losses from a security incident estimated to have affected $6.3 billion, stressing that the attack involved multiple points of intrusion and not the actions of a single employee. The company has temporarily halted withdrawals, changed its security measures and is cooperating with law enforcement authorities and online intelligence companies to locate and return stolen funds, when approximately $3 billion has already been frozen. Public reactions to the incident have been mixed, with some praising Binance's transparency while others expressing disbelief, leading to market volatility, including plummeting Bitcoin and Ethereum prices.