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Binance covers 90% of losses after reported $6.3bn hack
Original: Crypto firm Binance covers 90% of losses after $6.3bn hack
Crypto exchange Binance says it will cover 90% of losses after a reported $6.3bn hack, one of the largest figures ever linked to a cryptocurrency security breach. The exchange has stepped in to absorb most of the damage for affected users, and the scale of the reported losses is drawing widespread attention across the crypto industry and beyond.
Why now: The enormous reported size of the hack and Binance's decision to cover most user losses make it major breaking news in the crypto world
Evidence
- Crypto firm Binance covers 90% of losses after $6.3bn hack · BBCNews · 36
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