Aditya DidwaniyaA suspected leak from wallets on Binance, the world’s largest crypto exchange, may total around $5.7 billion in various cryptocurrencies, according to crypto outlet Coindesk.
Huge Sum May Have Drained From Binance Wallets
A possible leak from wallets on Binance, the biggest crypto exchange on earth, could total roughly $5.7 billion. The figure spans several types of cryptocurrency. This was reported by Coindesk, a site that covers crypto and blockchain topics closely.
Binance Founder Confirms Likely Hack
Binance founder Changpeng Zhao spoke out earlier about the incident. He said the exchange appears to have suffered a hacking attack. He added that user funds remain safe despite the breach.
Hacker’s Wallet Packed With Crypto Assets
Blockchain analytics platform Arkham shared fresh details on the hacker’s holdings. Coindesk quoted the platform directly in its report. The quote reads:
“The hacker’s wallet currently holds over $5.7 billion in various cryptocurrencies, including nearly $1.5 billion in Bitcoin and $900 million in Ethereum. The wallet also contains approximately $1.4 billion in stablecoins (USDT and USDC).”
Possibly the Largest Crypto Exchange Hack Ever
Coinbase weighed in on the scale of this breach too. The exchange suggested this could turn out to be the biggest crypto platform hack recorded so far. The Binance wallet leak has already rattled crypto markets, with bitcoin prices dropping after news of the suspected attack spread.
Pratik Agrawal
Mayur Mohta
Akshay Didwaniya
