Binance After the $6.3B Hack: Where Things Stand
What happened: On Oct 29, attackers took about $6.3B from Binance hot wallets. It has been called the largest crypto theft on record.
Latest updates:
• Binance says customer funds are safe and that it will cover all losses from company funds.
• Binance's reserve snapshot now covers 44 tokens, up from 10. The full zero-knowledge proof still needs about 50–60 more hours to compute.
• Reports say about 98% of the affected assets have been replenished.
• Withdrawals reopened in phases starting Nov 1.
• Net outflows topped $4.7B in the first days after the hack.
Attribution: Some reports point to North Korea. Officially confirmed: no.
What to watch: the full proof-of-reserves release, the remaining withdrawal phases, and whether exchange outflows slow down.
#Binance #BNB #ProofOfReserves #CryptoSecurity
What happened: On Oct 29, attackers took about $6.3B from Binance hot wallets. It has been called the largest crypto theft on record.
Latest updates:
• Binance says customer funds are safe and that it will cover all losses from company funds.
• Binance's reserve snapshot now covers 44 tokens, up from 10. The full zero-knowledge proof still needs about 50–60 more hours to compute.
• Reports say about 98% of the affected assets have been replenished.
• Withdrawals reopened in phases starting Nov 1.
• Net outflows topped $4.7B in the first days after the hack.
Attribution: Some reports point to North Korea. Officially confirmed: no.
What to watch: the full proof-of-reserves release, the remaining withdrawal phases, and whether exchange outflows slow down.
#Binance #BNB #ProofOfReserves #CryptoSecurity