Binance to cover $6.3 bn in stolen crypto losses via user-protection fund

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Binance has suffered a major security breach in which about $6.3 billion in digital assets was stolen. The exchange says it will use its Secure Asset Fund for Users to absorb the losses so that customers are not affected. Working with law enforcement, Binance has frozen roughly $3 billion of the stolen cryptocurrency across several blockchains. The article does not detail how the breach occurred or when it was discovered.

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