Binance suspends crypto transactions after $6.3 billion cyber heist

Cryptocurrency giant Binance has suspended all transactions while authorities investigate what's being called the biggest cyber heist in history. The company's founder says that user funds are safe, but hackers apparently made off with about $6.3 billion. Two cybersecurity research firms told The Wall Street Journal the heist appears to have been conducted by North Korea's Trader Trader hacking group, which already had pulled off Many of the largest crypto hacks ever. Binance says it's working with law enforcement to figure out how the theft happened. In the meantime, it has suspended all deposits and withdrawals as its team conducts security checks and freezes funds. In a post on social media, the company said its initial investigation shows one of its development operations engineers' laptops was compromised, allowing hackers to quote, submit unauthorized withdrawal transactions. Binance says it will cover the losses from the apparent hack. Prices for Bitcoin, the world's largest cryptocurrency, fell 3% on Thursday after Binance announced the hack. Other cryptocurrencies fell as well.