Cryptocurrency exchange scrambles to freeze affected assets, with about $3bn located so far, and says it will cover losses

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The world’s largest cryptocurrency exchange has been hit by an industry-record $6.3bn (£4.7bn) hack, with experts identifying North Korea as the likely culprit.

Binance has scrambled to freeze the affected assets, with about $3bn located so far. The company gave no update on the other $3.3bn as Binance’s co-founder Yi He said the company would cover “all hacking losses”.