Binance Estimates $6.3 Billion Hack Impact, Suspends Withdrawals

Binance estimates a $6.3 billion security breach, says about $3 billion is frozen and pledges to cover losses. Withdrawals remain paused. Binance estimates that a major security breach has affected approximately $6.3 billion in crypto assets and says roughly $3 billion has been frozen with help from blockchain partners. The exchange has pledged to cover losses using its SAFU protection fund and company resources as investigators trace unauthorized withdrawals. Withdrawals remain paused.