Crypto exchange Binance freezes assets after US$6.3 billion security breach
Full story
Binance has frozen assets following a security breach involving 6.3 billion US dollars. Analysts suggest this event could have broader effects on the cryptocurrency market. The sector was already facing pressure from higher US interest rates. There has also been softer demand from buyers of exchange-traded funds.
Beyond the potential loss of assets, the security breach was likely to have wider ramifications for crypto, which had already been under pressure lately due to higher US interest rates and softer demand from exchange-traded fund buyers, analysts said.