Binance hack of 6.3 billion dollars triggers crypto and stock market decline

Binance, the world's biggest crypto exchange, was hacked on Thursday, losing around 6.3 billion dollars. It is the largest cryptocurrency theft ever recorded. Binance said it managed to freeze about 3 billion dollars of the stolen assets.

Bitcoin fell more than 3 percent in early Asian trading on Friday, after dropping 3 percent during the US session. Other cryptocurrencies, including Ether and Solana, also lost value. Stock markets were hit too. The S&P 500 fell 2.1 percent, and the Nasdaq had its worst day since June, dropping 3.3 percent. For the week, all three major US indexes finished lower. Shares in crypto-related companies were expected to open lower on Friday following the news.