Legit.Ng Binance Security Incident Estimated at $6.3 Billion with $3 Billion Frozen
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- •Binance estimates $6.3 billion loss from a security incident.
- •$3 billion in assets have been frozen to aid recovery efforts.
- •The breach may have involved unauthorized access to internal withdrawal systems.
Binance has reported a significant security incident with an estimated impact of $6.3 billion, of which $3 billion in assets have been frozen. The breach is believed to have originated from a compromised DevOps engineer's laptop, allowing unauthorized withdrawal transactions without leaking wallet private keys. Binance has stated that it will cover losses through its Secure Asset Fund for Users (SAFU) and company funds. The exchange is collaborating with law enforcement and blockchain intelligence firms to trace and recover the stolen assets. While deposits have resumed, withdrawals remain paused as Binance revamps its withdrawal service. The incident marks the largest publicly reported crypto theft, surpassing previous breaches. A detailed root-cause analysis is expected to follow.
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