Binance, the world’s biggest crypto exchange, says it has suffered a $6.3bn (£4.7bn) hack.

The cryptocurrency giant says about half the assets have been frozen but many remain in the hands of the hackers.

Two analytics firms have attributed the incident to a North Korean hacking unit, though no one has claimed responsibility.

Blockchain intelligence firm TRM Labs says several elements of the Binance attack resemble earlier North Korean-linked incidents, including last year’s $1.5bn Bybit hack.

The company also says this latest hack could be the largest in history.

Binance didn’t directly respond to questions about the incident’s potential links to North Korea, but has said:

“We are working closely with our law enforcement partners to confirm the identity of these criminals and bring them to justice”

Source: BBC

• AI image | ohibaba

The President of Nigeria Labour Congress (NLC), Joe Ajaero, has lashed out at the Trade Union Congress’ (TUC) rejection of the Federal Government’s proposed N70,000 transport allowance, saying the union was not involved in negotiations with the government.

Ajaero warned that raising the national minimum wage to N1 million would not resolve Nigeria’s economic crisis, insisting that reducing the cost of living and strengthening the naira’s purchasing power were critical to improving workers’ welfare.

While rejecting the wage award, the TUC said the federal government had the capacity to raise the salary of the lowest-paid worker to N300,000 from the current minimum wage of N70,000, without waiting for a review of the minimum wage.

In a statement jointly signed by Festus Osifo and Nuhu Toro, President-General and Secretary respectively, the TUC said, in view of the prevailing economic hardship facing workers and the wider population, as well as the proposed measures to address it, what was needed was a salary increase and the implementation of the Joint Health Sector Union, JOHESU Agreement.

TUC stated: “Our position is unequivocal, workers are not asking for favours, they are demanding social and economic justice that protects their dignity and livelihoods.

“The TUC will continue to defend workers’ rights without retreat, expose non-compliance and pursue every legitimate avenue to compel the government to honour its obligations.

“Workers’ welfare is not a privilege. Agreements must be honoured. Workers’ rights must be respected. Government must comply.

President Bola Tinubu has defended his administration’s external borrowing plans, asserting “The real question is not how much we borrow, but what we build, what value we create and what future we leave behind.”

In a statement titled “From Reforms to Delivery: Our Infrastructure Investment and Growth Strategy,” Tinubu said the focus should be on the economic value generated by borrowed funds rather than the amount borrowed.

According to him, the loans will finance critical infrastructure and investments capable of expanding economic opportunities for future generations.

The infrastructure includes the Lagos-Calabar Coastal Highway, Sokoto-Badagry Superhighway, Trans-Sahara Superhighway, electricity grid upgrades and modernisation of key commercial ports in Lagos among others would strengthen Nigeria’s productive capacity.

Earlier, President Tinubu requested the National Assembly to approve a supplementary external borrowing plan worth $20.52 billion and €1.05 billion, about $21.7 billion in total, for 2026-2027.