On the third day after Binance was hacked, I’m not watching the $6.3 billion—I’m watching the two dates the company itself put in its announcement.
Early this morning, Binance released its second security update. Compared with 10/29, it added a few details: $6.34 billion in company funds has been set aside, including $5 billion prepared in the same assets that were stolen (USDC, USDT, BTC, ETH, BNB, etc.), covering about 80%. The rest is being bought back on the market and through OTC. About $3 billion has been frozen on-chain. No private-key leak has been found so far, but the investigation uncovered other points of entry beyond the laptop.
Here are the dates: withdrawals are targeted to resume in stages within about 34 hours—based on the post time, probably tomorrow afternoon (11/1). The proof-of-reserves results are due Monday, 11/2.
$BNB has held up pretty well over these three days. It dipped to a low of 680 on 10/29 and is now moving sideways around 705. Perpetual open interest, measured in coins, rose from about 573,000 to 580,000, while the funding rate is 0. I’m not seeing anyone rushing to close positions in a panic.
I’m bullish on BNB into the withdrawal reopening. If withdrawals resume on time, there’s no major net outflow, and Monday’s proof of reserves checks out, the layer of uncertainty hanging over the market will be lifted. If withdrawals are delayed again, or the price falls back below 680 after they reopen, that would show the market still isn’t convinced.
Tomorrow afternoon, keep an eye on the BNBUSDT perpetual and the withdrawal announcement.
#币安 #BNB $BNB
Early this morning, Binance released its second security update. Compared with 10/29, it added a few details: $6.34 billion in company funds has been set aside, including $5 billion prepared in the same assets that were stolen (USDC, USDT, BTC, ETH, BNB, etc.), covering about 80%. The rest is being bought back on the market and through OTC. About $3 billion has been frozen on-chain. No private-key leak has been found so far, but the investigation uncovered other points of entry beyond the laptop.
Here are the dates: withdrawals are targeted to resume in stages within about 34 hours—based on the post time, probably tomorrow afternoon (11/1). The proof-of-reserves results are due Monday, 11/2.
$BNB has held up pretty well over these three days. It dipped to a low of 680 on 10/29 and is now moving sideways around 705. Perpetual open interest, measured in coins, rose from about 573,000 to 580,000, while the funding rate is 0. I’m not seeing anyone rushing to close positions in a panic.
I’m bullish on BNB into the withdrawal reopening. If withdrawals resume on time, there’s no major net outflow, and Monday’s proof of reserves checks out, the layer of uncertainty hanging over the market will be lifted. If withdrawals are delayed again, or the price falls back below 680 after they reopen, that would show the market still isn’t convinced.
Tomorrow afternoon, keep an eye on the BNBUSDT perpetual and the withdrawal announcement.
#币安 #BNB $BNB
