About 18,000 bitcoin was reportedly transferred from wallets linked to Binance to a newly created anonymous wallet, while billions of dollars’ worth of other cryptocurrencies also disappeared. Some of the coins were quickly exchanged through unregulated platforms, reportedly in an attempt to conceal their trail. The possible loss was estimated at about $6 billion, which would make it the largest crypto theft reported so far.

Binance said an initial investigation indicated that attackers entered through a developer’s laptop, while later updates described a complex attack involving security breaches in several places. The company says it will reimburse customers and has set aside funds for that purpose, without disclosing their source. Experts differed on whether Binance could absorb the loss, and the company’s platform remains under scrutiny over customer trust and the security of crypto storage.