Nick Castro
@nickcastr0
· 4d
How much of the $6.3bn hack is Binance covering?Binance says it will cover about 90% of losses from a $6.3bn crypto hack, after the FBI blamed North Korea for the theft.What happened: The FBI attributed the $6.3bn breach to North Korea, and Binance has now said it will absorb roughly 90% of customer losses rather than leaving them to users. The move shifts a multibillion-dollar bill onto the exchange's own books at a time when state-linked crypto crime is drawing more scrutiny.Key numbers: $6.3bn — estimated value of the stolen funds90% — share of losses Binance says it will cover10% — remainder users may still have to absorbWhy it matters: When one exchange swallows a multibillion-dollar theft, attribution and reimbursement start to matter as much as the hack itself, and crypto breaches become a financial stability question rather than a niche one.Bottom line: Nine-tenths of a $6.3 billion hole is still a very large hole — it's just no longer the customers' hole.
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