Bangkok Post
Binance hack prompts Thai scrutiny
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The Thai unit of Binance, the world's largest cryptocurrency exchange, has assured customers that their assets remain safe after its parent company was hacked in what is being dubbed the biggest crypto heist in history.
Key facts
- Binance is investigating a major cybersecurity incident with an estimated financial impact of US$6.3 billion
- Initial estimates put the value of the transactions at about $5.7 billion, or 185 billion baht, before Binance revised its estimate of the total impact to $6.3 billion in an update on Oct 30.
- The Thai unit of Binance, the world's largest cryptocurrency exchange, has assured customers that their assets remain safe after its parent company was hacked in what is being dubbed the biggest crypto heist in history.
- The Thai Securities and Exchange Commission (SEC) said it is monitoring exposure.
- The exchange worked with blockchain partners to freeze about $3 billion in affected assets on-chain, adding it would cover all losses using its Secure Asset Fund for Users and company funds, assuring customers that their assets remained
Summary
The Thai Securities and Exchange Commission (SEC) said it is monitoring exposure.
Binance is investigating a major cybersecurity incident with an estimated financial impact of US$6.3 billion. In response, its Thai affiliate temporarily suspended digital asset deposits and withdrawals as a precaution.