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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 Suspends Withdrawals After Crypto Hackers Steal $6.3 Billion

The crypto exchange said it was compromised in what could be the biggest crypto heist ever. One research lab attributed the theft to “North Korea’s elite hacking unit.”

© Antonio Masiello/Getty Images

Changpeng Zhao, Binance’s founder, said the incident “does look like a hack.”
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