Breathtaking hacker competition with Tether and Circle Billions of dollars worth of cryptocurrency is left in the hands of attackers racing against time to save the stolen crypto.
According to Cointelegraph, the security of digital assets has always been one of the most important challenges in the cryptocurrency industry; A market created with the promise of eliminating middlemen, financial independence and the free transfer of capital, but its expansion has created new questions about the limits of control and ownership of assets.
In one of the largest cyberattacks in the history of the digital currency market, the attackers attempted to convert the stolen stablecoins into cryptocurrencies that their issuers failed to block before they were blocked.
The hackers responsible for the cyber attack on Binance, where the value of the stolen assets is estimated at $6.3 billion, despite the efforts of token issuers to block the proceeds of this theft, still have control over billions of dollars of stolen cryptocurrency.
Binance has pledged to compensate all damages caused by this attack using the Safe Asset Fund of Users (SAFU) and the company's financial resources.
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