Let’s talk honestly about the Binance hack, since a lot of people are asking.
What happened: On October 29, the platform’s hot wallets were hacked, with estimated losses of around $6.3 billion. According to Binance, it started with an engineer’s compromised laptop, and they found no evidence that private keys were leaked.
What does this mean for you?
- Binance says users’ funds are protected and the platform will cover the entire loss.
- It announced that it has recovered around 90% of the stolen assets, and BTC, ETH, USDT, and $BNB are 100% covered.
- Around $3 billion was frozen on-chain, including large amounts frozen by Tether and Circle.
- Withdrawals are resuming in stages today. The first stage is expected to run from around 9 a.m. to noon Baghdad time.
My advice: Don’t rush to withdraw everything at once; network congestion could delay requests.
Have you done anything with your money since the news broke?
#BinanceSquare #Binance #CryptoNews
What happened: On October 29, the platform’s hot wallets were hacked, with estimated losses of around $6.3 billion. According to Binance, it started with an engineer’s compromised laptop, and they found no evidence that private keys were leaked.
What does this mean for you?
- Binance says users’ funds are protected and the platform will cover the entire loss.
- It announced that it has recovered around 90% of the stolen assets, and BTC, ETH, USDT, and $BNB are 100% covered.
- Around $3 billion was frozen on-chain, including large amounts frozen by Tether and Circle.
- Withdrawals are resuming in stages today. The first stage is expected to run from around 9 a.m. to noon Baghdad time.
My advice: Don’t rush to withdraw everything at once; network congestion could delay requests.
Have you done anything with your money since the news broke?
#BinanceSquare #Binance #CryptoNews
