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Binance Was Hacked. What Protections Exist for Crypto Customers?

After a $6.3 billion hack, the company said it was going to reimburse customers who had losses.

© Anthony Kwan/Bloomberg

The chief executive of Binance, Changpeng Zhao, speaking via video at a Hong Kong conference in 2023.
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Binance’s $6.3 Billion Hack Is Just the Start of a Risky New Era

The largest cyber heist in history came as attackers increasingly use artificial intelligence and other advanced techniques to steal crypto and quickly launder the funds.

© Tyrone Siu/Reuters

The founder of Binance, Changpeng Zhao, in Hong Kong in August. The company, the world’s biggest crypto exchange, has promised to make customers whole.
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