Key facts
- Binance reported a $6.4 billion hack, the largest crypto theft to date.
- Approximately $2.39 billion of stolen funds were frozen by Tether and Circle.
- Binance has reserved over $6.34 billion to cover user losses.
- The hack is attributed to a North Korean hacker group.
- Hyperliquid's token (HYPE) saw a peak price of $97 on the day.
- Intercontinental Exchange is investing in Trade.xyz for a regulated U.S. perpetual futures venue on Hyperliquid.
Binance experienced its largest-ever crypto theft, with approximately $6.4 billion stolen across three blockchains. Stablecoin issuers Tether and Circle managed to freeze about $2.39 billion of the funds, while Aave took precautionary measures by freezing its v3 and v4 markets on Ethereum. Binance stated that user funds are safe and will be covered by its SAFU fund, reserving over $6.34 billion for losses. The hack is attributed to a North Korean hacker group, with initial access believed to be gained through a compromised DevOps engineer's laptop. The incident overshadowed a significant day for Hyperliquid, which announced an investment from Intercontinental Exchange for a regulated U.S. perpetual futures venue and received endorsements from investor Stanley Druckenmiller.