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Binance hack prompts stronger security practices and highlights institutional custody
The Oct. 19 hack on Binance stole over $6 billion, attributed to North Korea, raising total 2026 crypto security losses above $8 billion. Binance restored 95% of assets and expects the remaining frozen funds to be returned. Analysts say the breach may temporarily dent market confidence but will drive tighter security across exchanges and underscore the value of institutional custody solutions such as US‑listed crypto ETPs that offer offline storage, multi‑signature wallets and insurance.