Binance, which The New York Times described as the world's largest crypto exchange, suspended deposits and withdrawals after an apparent hack, according to the newspaper's reporting. The Times headline describes the event as a "security incident" that may cause $6.3 billion in losses.
The report was written by David Yaffe-Bellany for The New York Times and is available at the Times account of the Binance security incident. The Times described the hack as apparent and framed the losses as a possibility rather than a confirmed total.
According to The New York Times, the suspension of deposits and withdrawals is the exchange's reported step in response to the incident. The summary does not describe any further actions by the exchange, and it does not say how the potential losses were estimated.
This account relies on a single source. No other outlet's reporting was reviewed for it, so the hack, the size of the potential losses, and the suspension have not been independently confirmed here. The New York Times summary did not include the cause of the incident, the number of affected accounts, or how long the suspension will last, and this story does not supply those details.
Taken together, the Times headline and summary state three points, each attributed to the newspaper: the exchange's size, the suspension of deposits and withdrawals, and the potential $6.3 billion in losses. Neither the headline nor the summary gives a figure for losses already incurred. Further reporting would be needed to establish the cause of the hack or the final size of any losses.