Binance lost $6.3B in the largest crypto hack ever by dollar value, more than 4x Bybit's $1.5B.
The response is what stands out:
✅ Confirmed within hours
✅ ~95% of stolen assets replaced from Binance's own funds
✅ Withdrawals reopening in phases since Nov 1
✅ Full Proof of Reserves due Tuesday
Mt. Gox users waited a decade for repayments. Binance says its users are being made whole in days.
Bybit covered its 2025 hole with its own funds and bridge loans. Bitget covered its own $388M hack from its Protection Fund in September.
Strong response. But three major exchange hacks in two years show security still has work to do.
Credit where it's due 👏 @binance @CZ @_RichardTeng @benbybit @GracyBitget
The response is what stands out:
✅ Confirmed within hours
✅ ~95% of stolen assets replaced from Binance's own funds
✅ Withdrawals reopening in phases since Nov 1
✅ Full Proof of Reserves due Tuesday
Mt. Gox users waited a decade for repayments. Binance says its users are being made whole in days.
Bybit covered its 2025 hole with its own funds and bridge loans. Bitget covered its own $388M hack from its Protection Fund in September.
Strong response. But three major exchange hacks in two years show security still has work to do.
Credit where it's due 👏 @binance @CZ @_RichardTeng @benbybit @GracyBitget