Live updates: Binance says $6.34B set aside to cover hack losses
Follow live updates as Binance says $6.3 billion in assets have been stolen in a major hack. Around $3 billion in stolen funds have been frozen.
This is a summary. Read the complete story at Cointelegraph below.
Read full article at CointelegraphRelated Stories
Binance hackers raced to move billions before it could be frozen
Attackers raced to convert stolen stablecoins into crypto that issuers could not freeze as industry players like Tether and Circle moved to immobilize billions of dollars in assets.
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Experts divided over Binance hack asset freezes, warn recovery is another matter
Tether, Circle and others moved within hours to block billions in stolen crypto, but legal experts question whether smaller victims would get the same protection.
CoinDesk
Tether’s excess reserves nearly double to $8B as Q3 profit hits $1.5B
The stablecoin issuer’s US Treasury holdings are comparable to those of major foreign holders, while its Bitcoin reserves were valued at $8.37 billion at the end of September.
Cointelegraph