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.

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