Binance crypto heist: Why stealing US$6.3 billion may be easier than spending it

CNA5 hours ago12:52

Hackers stole US$6.3 billion from Binance, the world's biggest cryptocurrency exchange, in a record theft that analysts blamed on North Korea and said could be the largest financial heist of all time. But converting those stolen assets into usable cash could prove far more difficult, says RMIT University’s professor of economics Chris Berg. Speaking to CNA’s Asia First, he explains why hackers are racing to swap stolen stablecoins into Bitcoin and Ethereum and what the heist means for investor confidence. Subscribe to our channel here: https://cna.asia/youtubesub Visit our website: https://cna.asia Download our app: https://cna.asia/app Get our editors' picks of stories via chat apps: Telegram: https://cna.asia/telegram WhatsApp: https://cna.asia/whatsapp Follow us on these platforms: https://www.facebook.com/channelnewsasia https://www.instagram.com/channelnewsasia https://www.tiktok.com/@channelnewsasia

Trading stocks, CFDs, spread betting, futures, and options involves a high level of risk and may not be suitable for all investors. Prices can move rapidly, and losses can occur quickly and exceed your expectations.