News · Cryptocurrency & Blockchain
Binance hackers raced to move billions before it could be frozen
Attackers raced to convert stolen stablecoins into crypto that issuers could not freeze as industry players like Tether and Circle moved to immobilize billions of dollars in assets.
This is a short summary of a report by a third-party publisher. Newsline Press did not produce the original reporting.
Read the full story at CointelegraphOriginal publisher: Cointelegraph
This content is for information only and is not investment advice. See our disclaimers.
Spotted an error? Request a correction · Corrections Policy
Related stories
Bitcoin stolen from Binance tops Tesla’s holdings and is over twice El Salvador’s reserve
The 18,270 BTC haul is worth about $1.4 billion and comes within 442 coins of SpaceX’s disclosed holdings. Blockchain investigators link the attack to North Korea.
CoinDesk ·
Why North Korea's 'elite' hackers are the prime suspect in major Binance hack
If the accusations are true, the record-making heist shows how powerful suspected North Korean hackers have become.
BBC News ·
OpenAI reportedly cuts fundraising and valuation targets amid AI jitters
Anxiety about the AI boom has sent the Nasdaq 100 slumping by about 10% in just three weeks since hitting a record high on October 6, including a 4.5% drop on Friday.
CoinDesk ·
Experts divided over Binance hack asset freezes, warn recovery is another matter
Tether, Circle and others moved within hours to block billions in stolen crypto, but legal experts question whether smaller victims would get the same protection.
CoinDesk ·
Tether’s excess reserves nearly double to $8B as Q3 profit hits $1.5B
The stablecoin issuer’s US Treasury holdings are comparable to those of major foreign holders, while its Bitcoin reserves were valued at $8.37 billion at the end of September.
Cointelegraph ·
Coinbase leads crypto stock selloff following $6.3B Binance hack
Circle, Strategy and other crypto-linked stocks fell sharply Friday, a day after Binance disclosed a $6.3 billion security breach.
Cointelegraph ·