Binance Security Breach Causes $6.3 Billion Loss, $3 Billion in Assets Frozen

The world's largest cryptocurrency exchange, Binance, said that a breach of its security system caused an estimated loss of $6.3 billion.

According to the company, together with partners it worked on freezing the affected assets and so far has been able to determine the location of assets worth approximately $3 billion. Binance has not disclosed information about the status of the remaining $3.3 billion.

Binance co-founder Yi He said the company "will compensate for all losses resulting from the hacker attack".

According to the preliminary investigation, the security breach may have started with the hacking of the laptop of one of the company's engineers. This allowed the attacker to gain access to one of the systems and transfer funds without authorization.

Analysts estimate that this may be the largest robbery in the history of cryptocurrency and could prompt investors to reconsider the risks associated with holding digital assets.