Panic mode activated đ¨
Binance just got drained for $5.8B in what looks like one of the biggest exchange hacks ever.
The damage:
⢠17,985 $BTC moved (~$1.42B)
⢠$2.41B in stables frozen (USDT/USDC)
⢠Net loss sitting at ~$3.4B
Binance claims users will be made whole. We've heard this before, but given their track record and reserves, it's possible.
Waiting on @cz_binance to break the silence in the next 24hrs. Until then, expect volatility and FUD to rip through the market.
If you're holding on CEX, maybe time to rethink that custody model.
Binance just got drained for $5.8B in what looks like one of the biggest exchange hacks ever.
The damage:
⢠17,985 $BTC moved (~$1.42B)
⢠$2.41B in stables frozen (USDT/USDC)
⢠Net loss sitting at ~$3.4B
Binance claims users will be made whole. We've heard this before, but given their track record and reserves, it's possible.
Waiting on @cz_binance to break the silence in the next 24hrs. Until then, expect volatility and FUD to rip through the market.
If you're holding on CEX, maybe time to rethink that custody model.