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Binance, the world's largest cryptocurrency exchange, has suspended all deposits and withdrawals after a suspected hack, with reports of up to $5.8 billion (about 7.7 trillion won) in losses, according to Chosun Ilbo. Blockchain analysis firm TRM Labs attributes the theft, estimated at $6.36 billion, to North Korean hackers, as reported by the Korea Times. Major stablecoin issuers have frozen about $2.3 billion (3 trillion won) in related funds to prevent further damage, per Dong-A Ilbo. Bitcoin fell below $80,000 into the $77,000 range amid the market shock, Business Korea reports. Binance has stated customer assets are safe and losses will be fully compensated, but domestic exchanges like Upbit and Bithumb have advised caution on withdrawals to Binance, according to Chosun Ilbo. Korean media and markets are reacting with alarm, with the KOSPI losing 6,000 points on heavy selling, and the presidential office holding an emergency meeting over financial-sector hacking attacks, as reported by Business Korea and the Korea Times.