Binance has faced a major security incident involving unauthorized withdrawals from its hot wallet, with an estimated financial impact of $6.3 billion.
Here are the key developments:
🔹 Binance says it will cover the financial losses using company funds and SAFU.
🔹 Around 90% of the affected assets have reportedly been covered.
🔹 Withdrawals have started resuming in phases.
🔹 Approximately $3.64 billion in net outflows were reported following the incident.
🔹 The FBI has attributed the attack to North Korea's TraderTraitor group.
This incident raises important questions about exchange security, transparency, and the protection of digital assets.
The crypto industry needs stronger security measures and greater transparency.
What’s up, traders! It’s been a while, but I’m finally back on Binance Square! From now on, expect regular market updates, trading insights, and daily signals to keep you updated on the market. Let’s get back to the charts, stay disciplined, and catch the opportunities together.
ETH has broken out of the ascending triangle and is now retesting above it. The 100 MA is also acting as support, while the Ichimoku Cloud indicates a shift in trend.
A successful retest above the triangle would confirm bullish momentum. However, if the retest fails, the price may move back inside the triangle and continue ranging.