Exchanges1 source
Binance Lacks Cyber Insurance for $6.3 Billion Hack, Bloomberg Law Reports
Headline from The Defiant
Key points
- Cryptocurrency exchange Binance does not carry cyber insurance for a recent $6.3 billion security breach, according to Bloomberg Law.
- To cover the stolen assets, the company stated it has set aside over $6.34 billion in internal funds.
- Binance is currently tapping into its designated emergency reserves and futures funds to fully replace the missing user funds.
Summarized automatically by Kryptokite from reporting by The Defiant. Read the original sources for full detail.
Sources
- The DefiantBinance Lacks Cyber Insurance for $6.3 Billion Hack, Bloomberg Law Reports · 1 hour agoRead on The Defiant
Story timeline
- The Block1 min read
Liquid Network restores full bitcoin backing following $320 million exploit
- NewsBTC1 min read
MEXC Upgrades Futures Earn to Empower Retail Traders With a Clearer, More Intuitive Experience
- Cointelegraph1 min read
Binance’s net inflows turn positive at $2.3B as withdrawals expand
- CoinDesk1 min read
Bitcoin steadies after dip to $76,300 as ETF outflows and midterm elections weigh on crypto
- Decrypt1 min read
Liquid Network Restores Full Bitcoin Backing Two Months After $320M Exploit
Share
Kryptokite links to the original reporting and never republishes full articles. Summaries are written automatically and may contain mistakes; nothing here is financial advice.