North Korea gets away with $3 billion from Binance
www.citationneeded.news
Stablecoin issuers froze about $2.4 billion of the roughly $6.4 billion stolen. The rest exceeds Binance’s insurance fund, and the man promising to make users whole isn’t supposed to be running the company.

Article is by Molly White, who you might recognize from Mastodon and web3isgoinggreat.com:

https://hachyderm.io/@molly0xfff/117526961419935070

I wrote up what we know about the Binance hack so far. By my best estimate, Binance is out around $3 billion after stablecoin issuers froze what they could. Changpeng Zhao is promising Binance will cover it, but he’s legally barred from running the company.

  • anewfox@lemmy.zipEnglish
    1·
    1 day ago

    they didn’t break into a blockchain, they broke into a website. blockchains are built on hashes, nobody’s reversing hashes no matter how much you dislike blockchains.

    this wasn’t supposed to be possible, bro.

    hacking into websites is actually totally possible, bro. get your facts straight, bro. you don’t know what you’re talking about at all, bro.