Analysts react as Binance freezes assets after $6.3 billion security breach

[BitOk2027]

Analysts react as Binance freezes assets after $6.3 billion security breach​

Binance said it had worked with partners to freeze the affected assets, with about $3 billion located so far. It gave no update on the status of the remaining $3.3 billion.

The possible hacking sent crypto prices lower. Bitcoin hit a six-week low and was last down 3% at $76,469.82, while ether was down more than 3% at $2,185.83.

Shares in crypto exchange Coinbase Global slid 4.8% while those of bitcoin buyer Strategy fell nearly 6% in extended US trading.

Here are some comments from analysts and investors:

ERIC JARDINE, HEAD OF RESEARCH AT CHAINALYSIS:

“The investigation is ongoing, and we cannot yet confirm the cause of ‌the hack. As of 8:30 p.m. ET (0030 GMT), we have confirmed that at least $5.912 billion was stolen, with funds moving across multiple blockchains, including Bitcoin, Ethereum, Tron, Ripple and several Layer 2 networks.