Binance hack: issuers freeze about half of the stolen funds

Binance says it has secured about US$3 billion of the US$6.3 billion stolen, while many assets are still with unidentified hackers. The US Secret Service says it is working "around the clock" to trace and recover the funds.

Bitcoin and ether beyond reach

2.4 US$ billion

About half the stolen assets were stablecoins, now frozen by their issuers. Blockchain firm TRM Labs estimates that about US$2.4 billion in bitcoin and ether is beyond reach, because no one can freeze them.

Binance's co-CEO says losses will be covered by its secure asset fund and company resources. Some experts warn customers not to treat that promise as legally binding.

Chainalysis says thousands of automated transactions in a short period are hiding the trail of the stolen funds. Cryptocurrencies fell after the theft.