Posted on 10/30/2026 7:33:07 AM PDT by Red Badger
Summary Binance, the world's biggest crypto exchange, has been hit by what's thought to be the biggest hack in history - our correspondent breaks down what to know
Cryptocurrency worth $6.3bn (£4.7bn) was stolen, with Binance saying it has now "begun recovering" some funds
This theft may have happened quickly, but efforts to recover the cryptocurrency could continue for much longer, our senior technology reporter writes
Binance's co-CEO Richard Teng says initial investigations point to a "compromised DevOps engineer's laptop" giving hackers access, with a follow-up statement from Binance saying it's "uncovered additional points of breach"
What is Binance, and how does cryptocurrency work?
The crypto industry has been beset by enormous losses from hackers in the last few years, with investigators almost always blaming hackers from North Korea, our cyber correspondent writes
(Excerpt) Read more at bbc.com ...
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Oops! Binance, NOT Beyonce.
One term has nothing to do with the other.
North Korea.
Ever since Kanye West interrupted Taylor’s Swifts acceptance speech and said it should have gone to Beyonce, I’ve never trusted Beyonce. And I’m not going to buy her cryto.
Tranny?
They are not getting most of it back. The hacker was clever and converted it to Aave and used it as collateral to buy ETH, which they cannot recover. Half was “frozen” so hackers can’t use it, but getting it back is much harder.
Finance...............
Remember when all the crypto propaganda said that crypto was untraceable, safe and completely out of government ability to monitor or seize it?
All of these are proving untrue.
“...are proving untrue.”
We used to call that ‘lying’..................
most of the problem is that people trust companies to hold it for them.
just like buying a gold or silver ETF, if you dont hold it, you dont own it.
if you have crypto use your own wallet or offline storage, only transfer to coinbase or binance or whatever if you have a specific reason to.
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