There are actually no winners in this hacking incident:
1. 4 billion in funds flowed out of Binance, but the platform next door received only 370 million, and $HYPE received only 240 million. The rest went to cold wallets.
2. If the funds sent to cold wallets are actually stolen, there won’t even be a platform to fall back on. For example, in the previous Ledger hardware wallet incident, victims had no choice but to accept their losses.
3. The sell-off of $BTC and others is now a foregone conclusion. It will take time for the liquidated longs and market panic to recover.
1. 4 billion in funds flowed out of Binance, but the platform next door received only 370 million, and $HYPE received only 240 million. The rest went to cold wallets.
2. If the funds sent to cold wallets are actually stolen, there won’t even be a platform to fall back on. For example, in the previous Ledger hardware wallet incident, victims had no choice but to accept their losses.
3. The sell-off of $BTC and others is now a foregone conclusion. It will take time for the liquidated longs and market panic to recover.
