Binance Halts Withdrawals After Its Largest Hack

Binance disclosed further details of what it called the largest cryptocurrency theft on record and paused withdrawals on Wednesday, 4 November, with the loss reported at around $6.3 billion. Researchers said the techniques attributed to North Korean operators had been flagged years earlier. The halt is the part institutions act on: it converts a security incident into a custody question, and a balance on a screen into a claim on an operator.