Hacking News
Binance Hacker Gets Away with $3 Billion in Stolen Funds
A hacker attacked the prominent cryptocurrency centralized exchange, Binance, resulting in over $6 billion in funds being stolen. In response, Tether and Circle froze billions in USDT and USDC. Despite the freeze, the hacker managed to retain around $3 billion. The hacker leveraged DeFi protocols to deposit the stolen USDT as collateral, allowing him to borrow ETH. The situation caused the prices of BTC and ETH to fall below $79,000 and $2,200, respectively, affecting the entire crypto market.