A massive hack drained billions of dollars from Binance and, to a lesser extent, Polymarket, in what's being called the biggest crypto theft and possibly the largest bank-style heist in history — bad news for crypto users and anyone who trusts digital money to stay safe.

• Hackers broke in through a single compromised employee laptop, then used that access to redirect withdrawals and drain Binance's hot wallet in under 20 minutes.
• Around $6.3 billion disappeared; only about $3 billion has been frozen so far, and the rest may never come back, even though Binance says users will be made whole.
• Early signs point to North Korean state hackers, and experts say it's now safe to assume AI tools are helping power attacks like this one.
• The breach undercuts the idea that crypto is a safer alternative to banks, and some warn that AI-assisted hacking could eventually threaten traditional bank accounts and online transactions too.
• Separately, hackers also disabled freezer systems at several US military bases and French grocery stores, spoiling large amounts of food — seen by some as test runs for bigger cyberattacks.

Outlook: Expect more scrutiny of crypto exchange security and growing pressure for governments to address AI-powered hacking, with no quick fix in sight.