In May 2019, Binance was hacked and lost approximately 7,000 $BTC
(equivalent to about $40 million at the time) from its hot wallet.
Binance currently maintains the SAFU fund with a value of over $1 billion as reserves against potential risks.
Since that incident, Binance has not suffered any other major hacks.
Binance’s security team is currently working with bitget
to help address the recent incident.
This is one of the more positive moments in the crypto space.
$BTC
(equivalent to about $40 million at the time) from its hot wallet.
Binance currently maintains the SAFU fund with a value of over $1 billion as reserves against potential risks.
Since that incident, Binance has not suffered any other major hacks.
Binance’s security team is currently working with bitget
to help address the recent incident.
This is one of the more positive moments in the crypto space.
$BTC
