Binance just faced the largest crypto hack in history (around $6.3 billion), yet the situation is already under control. That is why the market barely reacted, and $BTC did not even drop 5%. If you are a Binance hater, deep down you know the funds are safe. đ
Some of you are comparing this to the FTX collapse. That does not make sense. FTX failed because of internal fraud and missing customer funds. Binance was hit by an external attack on its hot wallets. No private keys were leaked. User funds are safe, and Binance is covering every loss from its SAFU fund and company reserves. Over 50% of the stolen amount has already been frozen on-chain.
#Macro Insights# #Binance
Some of you are comparing this to the FTX collapse. That does not make sense. FTX failed because of internal fraud and missing customer funds. Binance was hit by an external attack on its hot wallets. No private keys were leaked. User funds are safe, and Binance is covering every loss from its SAFU fund and company reserves. Over 50% of the stolen amount has already been frozen on-chain.
#Macro Insights# #Binance