🚨 BINANCE BREAKS SILENCE: $6.3 BILLION SECURITY INCIDENT — USERS WON’T BEAR THE LOSSES!
Binance has released Security Incident Update #2 , sharing more details about the October 30 attack.
Here’s what stands out:
🔴 Approximately $6.3B in token assets were stolen through compromised hot wallets.
🛡️ Binance says it has set aside over $6.34B in company funds, with around $5B already held in the affected assets to cover the losses.
🔒 Around $3B has reportedly been frozen on-chain.
⚠️ Withdrawals remain temporarily suspended while security checks continue, but deposits and unaffected services remain operational.
Binance also says there is currently no evidence that wallet private keys were leaked. A full technical investigation is still underway.
My take: Covering user losses is important, but rebuilding confidence will require transparency, stronger security, and verifiable proof of reserves.
What matters most to you after an incident like this: user protection, transparency, or stronger security?
$BTC #Binance $PEPE #CryptoSecurity #SAFU🙏 $LSK #HeYiSaysWithdrawalsExpectedtoResumeWithin42Hours
Binance has released Security Incident Update #2 , sharing more details about the October 30 attack.
Here’s what stands out:
🔴 Approximately $6.3B in token assets were stolen through compromised hot wallets.
🛡️ Binance says it has set aside over $6.34B in company funds, with around $5B already held in the affected assets to cover the losses.
🔒 Around $3B has reportedly been frozen on-chain.
⚠️ Withdrawals remain temporarily suspended while security checks continue, but deposits and unaffected services remain operational.
Binance also says there is currently no evidence that wallet private keys were leaked. A full technical investigation is still underway.
My take: Covering user losses is important, but rebuilding confidence will require transparency, stronger security, and verifiable proof of reserves.
What matters most to you after an incident like this: user protection, transparency, or stronger security?
$BTC #Binance $PEPE #CryptoSecurity #SAFU🙏 $LSK #HeYiSaysWithdrawalsExpectedtoResumeWithin42Hours