Binance wallet reportedly hacked, should you panic?
Binance is not a small exchange. They have partners, investors, and the resources to handle situations like this.
For context, Binance had around $165B in tracked reserves in CoinMarketCap’s October report. Its tracked public reserve wallets also held over 623,000 BTC as of October 27.
Around $2B in USDT and USDC has already been frozen.
We saw a similar hack with Bybit, Bitget and they managed the situation. Binance is even bigger.
There is no need to panic. Your funds could be safe, but your positions may not be as we dont know how the market will react (so far it is bad)
Look around, understand what is happening, and think about what could happen next. Assess the situation before you get panic.
#HotTrends #BTC
Binance is not a small exchange. They have partners, investors, and the resources to handle situations like this.
For context, Binance had around $165B in tracked reserves in CoinMarketCap’s October report. Its tracked public reserve wallets also held over 623,000 BTC as of October 27.
Around $2B in USDT and USDC has already been frozen.
We saw a similar hack with Bybit, Bitget and they managed the situation. Binance is even bigger.
There is no need to panic. Your funds could be safe, but your positions may not be as we dont know how the market will react (so far it is bad)
Look around, understand what is happening, and think about what could happen next. Assess the situation before you get panic.
#HotTrends #BTC
