India, Oct. 30 -- Cryptocurrencies plunged heavily during the past 24 hours as markets digested the scale and scope of the largest crypto hack ever. In a daring heist that lasted only about 20 minutes, attackers on Thursday drained an estimated $6.3 billion from the hot wallets of Binance, the world's largest cryptocurrency exchange. The attack happened across multiple blockchains and consisted inter alia of Bitcoin, Ethereum, Tether and USDC.
Binance has since clarified that it would cover all the hacking losses. Deposits and withdrawals have been temporarily suspended and investigation is in progress.
Nevertheless, crypto industry's largest hack ever impacted sentiment heavily. Overall cryptocurrency market capitalization shed close to ...