Binance loses $6B in largest crypto theft; exchange covers losses

Binance, the world's largest cryptocurrency exchange, reported a hack on October 30 that resulted in the theft of over $6 billion, one of the largest in history. The exchange has allocated $6.34 billion from its own funds to reimburse users, indicating a significant financial hit but also a commitment to maintaining trust. The incident underscores persistent vulnerabilities in centralized crypto platforms and may trigger regulatory scrutiny and market volatility.

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