Crypto made history this week. Unfortunately, not for all the right reasons!
We're talking about Binance – the biggest crypto exchange on the planet, being hit by an estimated $6.3 BILLION hack. Yes, billion with a B. The biggest theft in crypto history, and investigators are pointing the finger at North Korea.
But here's the extraordinary part: billions of dollars in stolen crypto were frozen within hours. So how did the hackers get in, and how did the industry fight back?
And the hacks didn't stop there. Brazil's biggest crypto exchange, Mercado Bitcoin, has also reportedly been hit for more than $40 million, with deposits and withdrawals suspended. It's been a pretty rough week for crypto exchanges!
And then there's the NBA. Just two weeks after warning fans about the dangers of betting on games, they've signed official partnership deals with prediction market giants Kalshi and Polymarket.
Nothing says gamble responsibly quite like signing the bookies a fortnight later!
Let's get into it! 🚀
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TIMESTAMPS
01:45 Binance’s reported $6.3B hot-wallet theft
03:36 Customer balances, exchange reserves and frozen funds
05:50 How EIP-7702 and signing access may have enabled the attack
08:11 Brazil’s Mercado Bitcoin reports a $40M breach
11:04 NBA and WNBA prediction-market deals draw scrutiny
13:44 Short, sharp news bites
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Show notes:
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