Binance Estimates $6.3B Hit From Security Breach
Binance, a major crypto exchange, estimates the security breach could have a $6.3 billion impact. It has frozen $3 billion in crypto assets and suspended deposits and withdrawals. The company has pledged to cover customer losses. A preliminary investigation points to a compromised laptop belonging to a DevOps engineer as the possible entry point.
Quick glossaryBinance, DevOps engineer, crypto assets
- Binance
- A large cryptocurrency exchange, a website where people buy and sell digital coins such as Bitcoin.
- DevOps engineer
- A tech worker who manages the systems that build, test, and release software for a company.
- crypto assets
- Digital money and coins that people own, stored on computer networks rather than in physical form.
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