Binance Halts Deposits and Withdrawals Following Major Cyberattack Valued at Billions

Cryptocurrency exchange Binance has suspended all deposits and withdrawals to conduct security checks and freeze stolen funds after experiencing what is being described as the largest cyberattack in history. The total value of the attack was initially reported at approximately $6.3 billion, later revised to $3 billion in various assets. Cybersecurity research firms TRM Labs and Pangolin Intelligence have attributed the attack to North Korea's TraderTraitor hacking group. Binance founder Changpeng Zhao confirmed that user funds are safe, and stablecoin providers Tether and Circle have moved to freeze around $1.7 billion in stolen assets.