Pay up and keep quiet—pay up, whether you like it or not.
In short, Binance has astronomical profits and is considered one of the strongest trading platforms. For them, making profits is just a market correction. One of Binance’s wallets holds $650 billion, which is 26% of the entire market—a scary figure. Lately, their wallet has basically been used for selling off. Now this news is meant to let Binance sell off even more, because $6.5 billion in a market worth $2.5 trillion is 0.26%, which is insignificant and has no major impact on the market. But what happened was a heavy sell-off coinciding with the news. Now, let’s do the math.
Breakdown of the stolen assets (by currency type)
According to technical analysis data and wallet tracking (Arkham Intelligence):
Stablecoins (USDT): approximately $2.48 billion
$1.87 billion on the Ethereum network.
$612 million on the Tron network.
Stablecoins (USDC): approximately $800 million.
Bitcoin, Ether, and other tokens: the remaining amount (around $3 billion) is spread across currencies such as ETH, wBETH, and ARB, as well as other digital assets across 10 different blockchain networks (including Arbitrum, Avalanche, Polygon, Base, and Optimism).
In short, Binance has astronomical profits and is considered one of the strongest trading platforms. For them, making profits is just a market correction. One of Binance’s wallets holds $650 billion, which is 26% of the entire market—a scary figure. Lately, their wallet has basically been used for selling off. Now this news is meant to let Binance sell off even more, because $6.5 billion in a market worth $2.5 trillion is 0.26%, which is insignificant and has no major impact on the market. But what happened was a heavy sell-off coinciding with the news. Now, let’s do the math.
Breakdown of the stolen assets (by currency type)
According to technical analysis data and wallet tracking (Arkham Intelligence):
Stablecoins (USDT): approximately $2.48 billion
$1.87 billion on the Ethereum network.
$612 million on the Tron network.
Stablecoins (USDC): approximately $800 million.
Bitcoin, Ether, and other tokens: the remaining amount (around $3 billion) is spread across currencies such as ETH, wBETH, and ARB, as well as other digital assets across 10 different blockchain networks (including Arbitrum, Avalanche, Polygon, Base, and Optimism).
