Binance security breach affects $6.3 billion in assets

Recovery efforts and frozen funds

Binance stated it had recovered or frozen about $3 billion of the affected assets. The company provided no update on the status of the remaining $3.3 billion.

Initial investigation findings

An initial investigation suggested the breach may have started with a hacked laptop belonging to one of its engineers. This allowed an attacker to gain access to one of its systems and make unauthorised withdrawals.

Market reaction on Friday

Bitcoin dropped more than 3% to a six-week low of $76,368 in early Asian trading. Ether fell more than 3% to a two-month low of $2,178 during the same period.