
Binance Sets Aside $6.34B to Cover Hack Losses, CEO Says 'Your Assets Are Safe'
Richard Teng said the attacker used a self-destruct mechanism and an EIP-7702 delegation that bypassed Binance's normal approval controls.

News & market intelligence · Limited Beta
CoinsAQ combines concise summaries, sentiment, affected assets, and related context while preserving publisher attribution and original source links.
Market intelligence, not financial advice. Coverage and freshness vary.

Just as Hyperliquid opened the door to a fully regulated perps offering inside the U.S., Binance suffered the biggest hack in crypto history.

Both firms blame the group behind the Bybit hack, as Binance says it has set aside $6.34 billion of its own funds to cover user losses.

LlamaRisk proposes lower Aave V3 borrow caps and V4 draw caps ahead of a staged reopening following the Binance hot-wallet incident.

Billions in suspected stolen funds, $478 million in Bitcoin liquidations, and a possible North Korean connection has turned Binance's hack into crypto's biggest security story.

Binance says the attacker reportedly gained access through a compromised employee laptop, and about $3 billion has been frozen onchain.

Standard Chartered says the $6.3 billion Binance hack could drive trading toward decentralized exchanges, strengthening its $100 Uniswap price forecast for 2030.

Stablecoin issuers like Tether and Circle froze more than $2.6 billion following suspicious transfers from Binance-linked wallets.