Gone in 20 minutes: How the biggest heist in crypto history unfolded

Business Recorder reports that hackers took about $6.3 billion in cryptocurrency from transaction-processing wallets used by Binance, in what the report describes as the largest digital-asset theft. The main wave of transfers took roughly 20 minutes, and blockchain analysts said attackers had compromised systems that authorize transactions.

Binance co-CEO Richard Teng said the exchange would meet losses through its user-protection reserve and company resources. Issuers have frozen around half of the stolen assets, although that does not ensure their return; analysts estimated about $2.4 billion in bitcoin and ether was beyond reach. The breach has unsettled confidence in digital assets, with cryptocurrencies and the overall value of stablecoins both declining on Friday.