Binance hacked for $6.3 billion as withdrawals halt and crypto markets fall

Binance, the largest crypto exchange, was reportedly hacked for $6.3 billion, prompting a market decline and a suspension of withdrawals. A hack of that size at the biggest venue would hit confidence across the market and raise immediate questions about customer funds and exchange solvency. The excerpt also notes UE Crypto promoting cloud mining contracts in the aftermath, a detail traders should treat with caution.