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Binance reports 90 percent recovery after record crypto hack

Outlets report on a $6.3 billion crypto theft at Binance, with coverage focusing on the scale of the hack and fund recovery efforts.

Binance t-shirt and bag - 2022-07-09
Photo · Bretwa / Wikimedia Commons · CC BY-SA 4.0 · shown in black and white

At a glance

  • Binance experienced a $6.3 billion crypto hack described as a record-breaking heist.23
  • The company stated that 90 percent of the affected assets and stolen funds have been covered or replaced.13

Cryptocurrency exchange Binance suffered a massive hack resulting in the loss of $6.3 billion in customer funds.34

Outlets report this incident as the largest crypto theft in history.25

The company announced that 90 percent of the stolen assets have been replenished or covered directly by the exchange.13

Binance planned to resume withdrawals following security checks while addressing the remaining balance.13

Where sources agree

  • Binance experienced a $6.3 billion crypto hack5 of 5
  • 90 percent of stolen assets are covered or replaced3 of 5

Who covered this

5 National

Sources

  1. 1CNBCBinance says 90% of $6.3 billion hack losses are now covered, plans to resume withdrawals Sunday ↗
  2. 2The New York TimesHow Binance’s $6.3 Billion Hack Went Down ↗
  3. 3The VergeBinance CEO says 90 percent of stolen assets have been ‘replenished’ ↗
  4. 4NPRA simple explainer of the massive $6.3 billion crypto heist at Binance ↗
  5. 5CNBCBinance, crypto and hacks: What to know about keeping coin safe as cyber criminals advance ↗

Based on reporting from these reputable newsrooms and reviewed by Orbit’s editors. A fact appears only when at least two sources report it. Orbit is not affiliated with these publishers.

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