this post was submitted on 30 Oct 2026
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Binance targeted in $6.3 billion crypto heist, the largest ever (www.nbcnews.com)
submitted 22 hours ago by return2ozma@lemmy.world to c/technology@lemmy.world
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[โ€“] OrganicMustard@lemmy.world 10 points 14 hours ago* (last edited 14 hours ago) (1 children)

Because it's the bank, financial institutions and the trail of transactions registered to known entities who say whose the money is. For crypto you only need the keys and it is yours.

[โ€“] boonhet@sopuli.xyz 3 points 11 hours ago

Banks also have control of their own ledgers and can just issue a reversal transaction. If it's between two banks, it'll be more complex, but overall that's still the case