Binance revisits the course of its hack - What happened?

Binance disclosed that a “serious and highly sophisticated” security incident on October 29 resulted in losses of $6.34 billion, according to its review of the hack. The exchange detailed how the attack unfolded but did not specify which assets, chains, or protocols were affected beyond the total figure. The disclosure matters because a loss of that scale would rank among the largest in crypto exchange history and raises questions about custody and security practices at the world’s largest trading venue. Watch for Binance’s official statements clarifying whether customer funds were affected, any reimbursement or insurance plans, and on-chain evidence identifying the attacker’s wallets and flows.