WORLDTECHBinance reopens crypto withdrawals after record $6.3 billion exploit
Binance has reopened customer withdrawals after a record exploit worth $6.3 billion, according to a report by CoinDesk. The reopening follows an incident that has renewed attention on the security of centralised crypto exchanges.
Withdrawals resume after exploit
Binance, the cryptocurrency exchange and finance company, has reopened customer withdrawals following what the reporting describes as a record exploit worth $6.3 billion.
The report was published by CoinDesk, and no other source among those supplied independently confirms the details of the reopening.
Lessons for centralised exchanges
The incident underscores the vulnerability of centralised exchanges, according to the reporting, which points to the need for robust security measures and regulatory oversight.
Binance was founded in 2017 and is based in the United Arab Emirates.
Open questions
- Will withdrawals be fully restored on all assets, or only in phases?
- What measures has Binance taken to prevent a repeat of the exploit?