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Binance loses $3.6 billion after $6.3 billion crypto hack: What the massive outflows mean for customers and investors

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Binance loses $3.6 billion after $6.3 billion crypto hack: What the massive outflows mean for customers and investors
Photo / Coverage: Livemint - News
EXECUTIVE SUMMARY

The exchange said the movement of funds eased after an initial surge in withdrawals. Binance had temporarily suspended withdrawals following Thursday's hack to investigate the incident and stabilise its systems.

Key Takeaways

  • Binance loses $3.6 billion after $6.3 billion crypto hack: What the massive outflows mean for customers and investors.
  • The exchange said the movement of funds eased after an initial surge in withdrawals.
  • Binance had temporarily suspended withdrawals following Thursday's hack to investigate the incident and stabilise its systems.

The exchange said the movement of funds eased after an initial surge in withdrawals. Binance had temporarily suspended withdrawals following Thursday's hack to investigate the incident and stabilise its systems.

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