Binance’s $6.3 billion hack raises questions about crypto wallet safety
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A Thursday breach at Binance affected some $6.3 billion in client assets, the largest cryptocurrency theft on record. The same day, Polymarket halted international trading after a hacked third-party data provider drained at least $2.7 million from users’ wallets on Polygon. Experts told CNBC such exchange incidents are unsurprising and may increase; Tyler Moore of the University of Tulsa warned against keeping large sums on exchanges, which lack built-in protections like FDIC deposit insurance up to $250,000 per depositor.
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