The hackers behind the raid were from North Korea, according to US blockchain analysis firms TRM Labs and Chainalysis.

The hackers behind the raid were from North Korea, according to US blockchain analysis firms TRM Labs and Chainalysis.

Oct 29 - Binance, the world's largest cryptocurrency exchange, said a security breach had resulted in an estimated $6.3 billion impact that analysts said could amount to the biggest crypto heist ever and might make investors rethink the risks of owning digital assets. Read more at straitstimes.com.

Beyond the potential loss of assets, the security breach was likely to have wider ramifications for crypto, which had already been under pressure lately due to higher US interest rates and softer demand from exchange-traded fund buyers, analysts said.

Beyond the potential loss of assets, the security breach was likely to have wider ramifications for crypto, which had already been under pressure lately due to higher US interest rates and softer demand from exchange-traded fund buyers, analysts said.

Binance said all deposits and withdrawals had been “temporarily suspended”.

Binance investigates suspicious crypto outflows estimated at $5.6 billion as Tether and Circle freeze billions in assets linked to the incident.

Binance investigates suspicious crypto outflows estimated at $5.6 billion as Tether and Circle freeze billions in assets linked to the incident.

According to TRM Labs, which tracks the industry, digital assets worth more than $6.3bn (£4.7bn) have been taken from Binance by North Korean hackers. This would be the largest cryptocurrency hack to date - and one of the biggest in financial history.

According to TRM Labs, which tracks the industry, digital assets worth more than $6.3bn (£4.7bn) have been taken from Binance by North Korean hackers. This would be the largest cryptocurrency hack to date - and one of the biggest in financial history.