Where are your funds actually sitting?
Most of your assets are in COLD wallets (offline). Only a small % lives in HOT wallets (online) to handle withdrawals.
The attacker hit the hot wallets.
Binance absorbs the loss. Users aren't touched.
This is standard exchange security architecture. Cold storage = your real vault. Hot wallets = the cashier's drawer.
If you're still keeping life-changing money on CEXs long-term, you're doing it wrong.
Most of your assets are in COLD wallets (offline). Only a small % lives in HOT wallets (online) to handle withdrawals.
The attacker hit the hot wallets.
Binance absorbs the loss. Users aren't touched.
This is standard exchange security architecture. Cold storage = your real vault. Hot wallets = the cashier's drawer.
If you're still keeping life-changing money on CEXs long-term, you're doing it wrong.