Binance Hit by $6.3B Hack, Halts All Deposits and Withdrawals

The headline number is eye-catching, but the more consequential detail is Binance's pledge to absorb all losses itself — that turns a security breach into a balance-sheet and confidence question rather than an immediate customer-loss event. The timing, landing alongside a broad tech selloff, complicates any read on whether the market reaction is crypto-specific or part of a wider risk-off move. Watch how long deposit and withdrawal functions stay suspended, since the duration of that freeze will say more about operational damage than the stolen figure does.