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Binance Hack Sparks Concerns Over Crypto Safety | Markets & Money News
Binance, the largest cryptocurrency exchange, suffered a significant hack on October 29, resulting in losses of approximately $6.3 billion. Although Binance has pledged to cover the losses and frozen $3 billion in stolen assets, this promise is not legally binding. With about 20% of U.S. adults involved in crypto, the incident raises vital questions about investment security, as there is no FDIC equivalent for cryptocurrencies. Experts recommend keeping coins offline to enhance safety,
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