#hack Tech News.
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The latest hack news, distilled by AI into sharp ~100-word summaries. ByteBrief tracks hack across dozens of tech sources and brings you only what matters, updated hourly. Tap any story for the full brief, or open the original source.
Binance co-CEO Richard Teng announced Friday the exchange reserved $6.34 billion to cover losses from a Thursday hack. While the exchange holds $5 billion in affected tokens, it buys the remaining $1.3 billion. Industry partners froze roughly $3 billion, including $1.57 billion in USDT and $800 million in USDC. Withdrawals are currently suspended for users.
Binance froze $2.5bn in digital assets on Thursday to prevent theft during a security investigation. The firm suspended all deposits and withdrawals while teams traced funds, with former boss Changpeng Zhao confirming the incident resembles a hack. Hackers from North Korea stole $6.3 billion, while Binance froze about $3 billion of stolen assets. Bitcoin fell below $78,000 amid the breach.
Polymarket pauses trading after a $2.65 million exploit involving compromised third-party provider DebugBear. Malicious code hosted on DebugBear caused the breach, while a previous breach in May drained $700,000. The platform placed its exchange in cancel-only mode and paused relayer actions while investigating the incident.
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