Binance loses $6.3 billion in crypto heist—what happens to your money when an exchange gets hacked

Source: press CNBC•

Binance loses $6.3 billion in crypto heist—what happens to your money when an exchange gets hacked

A record-breaking hack at Binance, the world's largest cryptocurrency exchange, is a reminder of the risks investors take when trusting a company to hold their digital tokens. Binance said Friday that the security breach affectedabout $6.3 billion in client assets, making it the largest crypto…

A record-breaking hack at Binance, the world's largest cryptocurrency exchange, is a reminder of the risks investors take when trusting a company to hold their digital tokens.

Binance said Friday that the security breach affectedabout $6.3 billion in client assets, making it the largest crypto hack on record. Around $3 billion of the affected assets has been frozen on blockchain networks, and the exchange says it has begun recovering some of them.

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