Binance just dropped a major update on the hack recovery 👇
$6.34B in company funds locked and loaded to cover the damage
$5B already sitting in the exact tokens that got drained
Rest being scooped up via market + OTC buys
$3B in stolen assets now frozen thanks to industry partners stepping in
Binance is going full bore with law enforcement, blockchain intel firms, and token issuers to track down every last dollar
They're backing this with company capital and running Proof of Reserves to verify user balances
Recovery is live. Not over yet, but they're moving fast
This is how you handle a crisis in crypto. Most exchanges would've folded or dragged it out for months
Stay sharp out there 🤝
$6.34B in company funds locked and loaded to cover the damage
$5B already sitting in the exact tokens that got drained
Rest being scooped up via market + OTC buys
$3B in stolen assets now frozen thanks to industry partners stepping in
Binance is going full bore with law enforcement, blockchain intel firms, and token issuers to track down every last dollar
They're backing this with company capital and running Proof of Reserves to verify user balances
Recovery is live. Not over yet, but they're moving fast
This is how you handle a crisis in crypto. Most exchanges would've folded or dragged it out for months
Stay sharp out there 🤝