$BNB
$BEAMX
$ON
The hack reportedly cost BINANCE over $5.6 billion in cryptocurrency.The hack reportedly resulted in BINANCE losing more than $5.6 billion worth of cryptocurrencies.
The glaring security breach at Binance has sparked serious concerns in the crypto community.
The numbers as reported show over $5.6 BILLION in cryptocurrencies have been siphoned off, and it may be one of the biggest crypto asset thefts ever.
So far, we know the following:
The total affected assets are estimated at being $2.32 BILLION+ in Bitcoin and Ethereum.
Binance's estimate of the overall financial damage is $6.3 BILLION.
This is the amount that has been reportedly frozen until now: $\$ 3$ BILLION.
🔹 Loss Coverage: Binance claims it will compensate the losses and that user funds are secure.
Even though it was reported that they are taking action to recover the losses, the incident still takes our breath away because of the size and magnitude of the incident raises some serious issues regarding the security of the exchanges, the custody of the coins and the risks of centralized exchanges.
The industry will be closely watching the investigation.
Will this be one of the greatest challenges to investor confidence in centralized cryptocurrency exchanges?
DYOR. NFA.#Binance #$1.5BInLeveragedCryptoBetsLiquidated #AmazonSharesFallAbout7%InPremarketTrading #StrategySTRCReaches$99.95ForFirstTimeIn165Days
$BEAMX
$ON
The hack reportedly cost BINANCE over $5.6 billion in cryptocurrency.The hack reportedly resulted in BINANCE losing more than $5.6 billion worth of cryptocurrencies.
The glaring security breach at Binance has sparked serious concerns in the crypto community.
The numbers as reported show over $5.6 BILLION in cryptocurrencies have been siphoned off, and it may be one of the biggest crypto asset thefts ever.
So far, we know the following:
The total affected assets are estimated at being $2.32 BILLION+ in Bitcoin and Ethereum.
Binance's estimate of the overall financial damage is $6.3 BILLION.
This is the amount that has been reportedly frozen until now: $\$ 3$ BILLION.
🔹 Loss Coverage: Binance claims it will compensate the losses and that user funds are secure.
Even though it was reported that they are taking action to recover the losses, the incident still takes our breath away because of the size and magnitude of the incident raises some serious issues regarding the security of the exchanges, the custody of the coins and the risks of centralized exchanges.
The industry will be closely watching the investigation.
Will this be one of the greatest challenges to investor confidence in centralized cryptocurrency exchanges?
DYOR. NFA.#Binance #$1.5BInLeveragedCryptoBetsLiquidated #AmazonSharesFallAbout7%InPremarketTrading #StrategySTRCReaches$99.95ForFirstTimeIn165Days
