Binance, the world's largest cryptocurrency exchange, has been hacked by North Korean hackers, resulting in a loss of over $6.3 billion.
Binance has confirmed a security incident and suspended withdrawals after a massive hack at its exchange. The company said its teams are 'working around the clock' to resolve the issue.
TRM Labs, a blockchain intelligence firm, attributed the attack to TraderTraitor, North Korea's elite hacking unit, based on robust on and off-chain intelligence.
Why this matters: The hack has sent shockwaves through the crypto industry, with Bitcoin falling by over 3% in response.
What this means for you: If you have funds stored on Binance, it's essential to monitor your account for any suspicious activity and contact customer support if you notice anything unusual.
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