Cryptocurrency exchange Binance is investigating what is suspected to be the largest cryptocurrency hacking attack in history. More than $5.7 billion in assets were transferred out of users' wallets on Thursday afternoon. This suspected hacker attack occurred after a wave of high-profile cyber attacks and data breaches. During the so-called “Black October,” a series of hacking attacks and vulnerabilities discovered by artificial intelligence raised concerns about a global crisis. Binance co-founder Zhao Changpeng — currently no longer a company executive — said on social networking platform X that the cryptocurrency exchange appears to have been hacked, but a company spokesperson said the matter is still being investigated. Analysts and traders who closely monitor the crypto market estimate that in this suspected cyber attack, the stolen funds ranged between $1.7 billion and $5.7 billion. “This is unprecedented,” said Kevin March, co-founder of JPEG Trading, a cryptocurrency trading company that closely monitors the hacking attack to monitor market conditions.

Cryptocurrency exchange Binance is investigating what is suspected to be the largest cryptocurrency hacking attack in history. More than $5.7 billion in assets were transferred out of users' wallets on Thursday afternoon. This suspected hacker attack occurred after a wave of high-profile cyber attacks and data breaches. During the so-called “Black October,” a series of hacking attacks and vulnerabilities discovered by artificial intelligence raised concerns about a global crisis. Binance co-founder Zhao Changpeng — currently no longer a company executive — said on social networking platform X that the cryptocurrency exchange appears to have been hacked, but a company spokesperson said the matter is still being investigated. Analysts and traders who closely monitor the crypto market estimate that in this suspected cyber attack, the stolen funds ranged between $1.7 billion and $5.7 billion. “This is unprecedented,” said Kevin March, co-founder of JPEG Trading, a cryptocurrency trading company that closely monitors the hacking attack to monitor market conditions.