Secret Service, FBI Join Binance Hack Probe as Circle Freezes $823 Million

Binance has earmarked $6.34 billion to absorb losses from a breach, the exchange said. A breach is a security incident involving stolen funds, and the $6.34 billion reserve is money set aside to cover such losses. The FBI and Secret Service are now working with Binance while investigators trace the stolen money. The two federal agencies are now assisting the exchange as it follows the movement of those stolen funds.