HACKERS DRAIN 6.3 BILLION DOLLARS FROM BINANCE

SINGAPORE, OCTOBER 30 /SRNA-Reuters/ - Hackers have stolen 6.3 billion dollars from "Binance", the world's largest cryptocurrency exchange, and analysts are blaming North Korea for the record theft.

According to data from analytics firms "TRM Labs" and "Chainalysis", most of the theft was detected late last night, within about twenty minutes.

Analysts believe the theft could shake public confidence in digital assets.

Cryptocurrency prices fell after the theft was announced, while "Binance" suspended withdrawals and said it would cover the losses.

Almost half of the stolen funds were quickly frozen by stablecoin issuers such as "Tether", "Circle" and "World Liberty Financial".

A stablecoin is a type of cryptocurrency whose value is pegged to a stable real-world asset, most often the US dollar, to avoid large swings in value.

The theft is similar to previous major hacker attacks blamed on North Korea.