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Binance, the world's largest cryptocurrency exchange, has reported a security breach with an estimated impact of US$6.3 billion, in what could be the biggest crypto heist on record. Around US$3 billion in affected assets has been frozen, while Binance says user funds are safe and it will cover all losses. CNA's Elizabeth Neo discusses the latest developments, including why recovering stolen cryptocurrency could be a prolonged process, the financial safeguards available to cover losses, and the challenges facing crypto exchanges as cyberattacks become increasingly sophisticated.
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