Crypto ‘scammers on overdrive’ as Binance customers pull billions from accounts after $6.3bn hack – business live

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Crypto scammers are now in “overdrive”, the founder of crypto exchange Binance has warned, as customers pull billions in funds from the platform as it recovers from a record hack.

The platform was hit by a $6.3bn theft on Thursday, which has since been described as the biggest heist in history. Experts identified North Korea as the probable culprit.

Binance initially froze withdrawals as it investigated the breach but on Sunday announced it had begun a phased reopening.

1% of its $171bn in total assets under management. (Those numbers were confirmed by the company in its latest proof of reserves snapshot – a full report is expected today.)