Binance Hack of $6.3B: Record Loss Highlights Exchange Risk

Binance has pegged the estimated impact of its reported security breach at around $6.3 billion , while saying $3 billion in crypto has been verified as frozen. As investigators trace how the attack unfolded, the exchange says it has begun coordinating recovery efforts with law enforcement and is preparing a refreshed proof-of-reserves update. The latest updates in Cointelegraph ’s live coverage center on how Binance plans to restore normal operations, what was frozen, and why analysts believe the hack likely involved compromised systems rather than a simple “one-click” incident.