Binance fights to save its brand after record $6.3bn hack

Binance, the world's largest cryptocurrency exchange, is fighting to save its brand after suffering the world's largest online theft: a $6.3bn heist late last week that experts say was likely the work of North Korean hackers, the Guardian reports. More than $2.5bn was taken in a single transaction after a Binance engineer's laptop was infiltrated, letting the attackers drain wallets; Binance later said there were "additional points of breach." The exchange said on X it would "cover all losses" and that "user funds are safe," and that it had frozen about half the targeted funds. Most customers have no legal protection: crypto is not covered by deposit guarantees in the US, UK or Australia. Now the company faces angry, scared users.