$BTC
$BNB
🚨 Binance just suffered a $6.3 BILLION crypto hack. And somehow, replacing the stolen money is turning into a problem of its own.
The exchange says it has already replaced 90% of the missing crypto, with the final 10% proving rather STUBBORN.
Why?
Some of the stolen tokens are so thinly traded that even Binance can't just throw hundreds of millions of dollars at the market and expect enough sellers to show up.
That's the rather uncomfortable part.
The world's largest crypto exchange has the money to cover the losses. But having the cash and actually finding enough of the right tokens are two VERY different things.
Binance says customers won't have to foot the bill.
Now comes the tricky business of making everyone whole without sending the prices of those remaining tokens through the roof.
Source: Reuters /Binance
#CryptoNewss #worldnews #BinanceSquareFamily
$BNB
🚨 Binance just suffered a $6.3 BILLION crypto hack. And somehow, replacing the stolen money is turning into a problem of its own.
The exchange says it has already replaced 90% of the missing crypto, with the final 10% proving rather STUBBORN.
Why?
Some of the stolen tokens are so thinly traded that even Binance can't just throw hundreds of millions of dollars at the market and expect enough sellers to show up.
That's the rather uncomfortable part.
The world's largest crypto exchange has the money to cover the losses. But having the cash and actually finding enough of the right tokens are two VERY different things.
Binance says customers won't have to foot the bill.
Now comes the tricky business of making everyone whole without sending the prices of those remaining tokens through the roof.
Source: Reuters /Binance
#CryptoNewss #worldnews #BinanceSquareFamily
