A $6.3 billion shortfall—and Binance covered it itself. Users lost nothing.
#币安将恢复更多资产提现
On the night of October 29, the hot wallet was breached, and $6.34 billion in assets began pouring out. At another company, the announcement at this point might have read, “We are assessing the impact.” What did Binance do? Within two days, it had replenished 98% of the affected assets.
Where did the money come from? The SAFU Fund and the company’s own funds. Binance had set aside more than $6.34 billion in company funds in advance, replacing every stolen USDC, USDT, BTC, ETH, and BNB token. He Yi said just one thing at the time: “User funds are safe. Binance will bear all the losses.”
But Binance didn’t stop at “making users whole.”
$2.85 billion was intercepted on-chain. Working with law enforcement, blockchain intelligence firms, and asset issuers, they froze everything they could. Tether froze USDT, Circle froze USDC, and Ripple helped freeze about $200 million. What the hackers got was a hot potato, not cash.
The market is still volatile, and the panic hasn’t subsided. But at least one thing is certain: your coins are still in your account.
#币安将恢复更多资产提现
On the night of October 29, the hot wallet was breached, and $6.34 billion in assets began pouring out. At another company, the announcement at this point might have read, “We are assessing the impact.” What did Binance do? Within two days, it had replenished 98% of the affected assets.
Where did the money come from? The SAFU Fund and the company’s own funds. Binance had set aside more than $6.34 billion in company funds in advance, replacing every stolen USDC, USDT, BTC, ETH, and BNB token. He Yi said just one thing at the time: “User funds are safe. Binance will bear all the losses.”
But Binance didn’t stop at “making users whole.”
$2.85 billion was intercepted on-chain. Working with law enforcement, blockchain intelligence firms, and asset issuers, they froze everything they could. Tether froze USDT, Circle froze USDC, and Ripple helped freeze about $200 million. What the hackers got was a hot potato, not cash.
The market is still volatile, and the panic hasn’t subsided. But at least one thing is certain: your coins are still in your account.