$ BINANCE HAS FROZEN APPROXIMATELY $3 BILLION!
Some positive developments following Binance's massive security incident.
According to Binance's latest October 30 update, approximately $3 BILLION worth of affected crypto assets have now been frozen on-chain through cooperation with blockchain partners.
Here's what we know:
• Total estimated impact: $6.3 BILLION
• Assets frozen: ~$3 BILLION
• Tether froze over $1.567B in related assets.
• Circle froze over $823M.
• Ripple also froze approximately $200M.
• World Liberty Financial froze additional related assets.
That's a massive coordinated effort by the crypto industry.
However, freezing assets doesn't mean all funds have been returned to Binance. The investigation and recovery efforts are still ongoing.
The good news?
Binance has officially confirmed that:
1. User funds are safe.
2. All losses will be covered by SAFU and company funds.
3. No evidence of wallet private-key leakage has been found so far.
4. An updated Proof of Reserves will be published after remediation.
Let's hope the remaining affected assets can also be traced and frozen.
Full credit to the blockchain companies and security teams working together. $BTC $BNB
Some positive developments following Binance's massive security incident.
According to Binance's latest October 30 update, approximately $3 BILLION worth of affected crypto assets have now been frozen on-chain through cooperation with blockchain partners.
Here's what we know:
• Total estimated impact: $6.3 BILLION
• Assets frozen: ~$3 BILLION
• Tether froze over $1.567B in related assets.
• Circle froze over $823M.
• Ripple also froze approximately $200M.
• World Liberty Financial froze additional related assets.
That's a massive coordinated effort by the crypto industry.
However, freezing assets doesn't mean all funds have been returned to Binance. The investigation and recovery efforts are still ongoing.
The good news?
Binance has officially confirmed that:
1. User funds are safe.
2. All losses will be covered by SAFU and company funds.
3. No evidence of wallet private-key leakage has been found so far.
4. An updated Proof of Reserves will be published after remediation.
Let's hope the remaining affected assets can also be traced and frozen.
Full credit to the blockchain companies and security teams working together. $BTC $BNB