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Binance Discovers Broader Breach in $6.3 Billion Exploit, Plans Sunday Withdrawal Restart
(3 hours ago) · 1 source · Summarized by CryptoBipto
Binance has reportedly uncovered a wider security breach connected to a $6.3 billion exploit. The exchange has suspended withdrawals and is targeting Sunday to resume them as it investigates the full scope of the incident.
WHY IT MATTERS
When you store cryptocurrency on an exchange like Binance, the exchange holds your funds for you, similar to how a bank holds your money.
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SOURCES
- coindesk.com
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