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Bitcoin falls about 4% after Binance's $6.3bn hack

Bitcoin was down about 4% on Friday afternoon, less than a day after Binance disclosed a $6.3bn hack, and Binance says it will cover the losses.

Posted Updated (3 d ago)

Bitcoin was trading down about 4% on Friday afternoon, CNBC reports. That was less than a day after Binance disclosed what outlets describe as the biggest crypto hack on record. CNBC's headline says bitcoin held up better than might have been expected.

Binance said on Thursday that $6.3bn in digital assets was affected, the BBC reports. Al Jazeera says Binance reported that amount stolen. The New York Times says hackers took around $6 billion, and that Binance has said it will cover the losses.

Al Jazeera reports that Binance, which it calls the world's largest crypto exchange, has halted withdrawals. It also says the theft is linked to North Korean hackers. Its summary does not say who made that link, and none of the other reports provided mention it.

The reports provided do not say how the attack happened. They do not explain the gap between the Times' "around $6 billion" and the $6.3bn figure used by the BBC and Al Jazeera.

Reported by

  1. BBC NewsWhat we know about Binance's $6.3bn hackFri, Oct 30, 4:02 AM EDT
  2. BBC NewsBinance hack - who is behind it, is my money safe and what we know so farFri, Oct 30, 7:57 AM EDT
  3. Al JazeeraBinance says $6.3bn stolen in biggest crypto heist in history: What we knowFri, Oct 30, 8:38 AM EDT
  4. The New York TimesBinance Lost Over $6 Billion in Crypto Hack. Here’s What to Know.Fri, Oct 30, 11:14 AM EDT
  5. BBC NewsBinance's $6.3bn crypto hack biggest in historyFri, Oct 30, 1:41 PM EDT
  6. CNBCWhy bitcoin held up better after the record Binance hackFri, Oct 30, 1:54 PM EDT
  7. CNBCBinance, crypto and hacks: What to know about keeping coin safe as cyber criminals advanceSat, Oct 31, 9:58 AM EDT
  8. PBS NewsHourWhat to know about the $6.3B hack on Binance, likely the biggest-ever crypto theftSat, Oct 31, 11:14 AM EDT
  9. BBC NewsCrypto firm Binance covers 90% of losses after $6.3bn hackSat, Oct 31, 12:32 PM EDT

This story was written by AI using only the reports listed above, and published without a person reviewing it first. It is rewritten as new reports arrive. Read the original reporting for full detail. Spot an error? Tell us.

Earlier versions (2)
  1. Fri, Oct 30, 11:20 AM EDT, 3 outlets: Binance says it will cover losses from $6.3bn crypto hack
  2. Fri, Oct 30, 9:15 AM EDT, 2 outlets: Binance says $6.3bn stolen in hack, halts withdrawals