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CZ states Binance's loss from the suspected hack might exceed $1 billion but confirms they will cover it
CZ states Binance's loss from the suspected hack might exceed $1 billion but confirms they will cover it. This comes after @0xngmi estimated the loss at around $1 billion, or 0.69% of Binance's total assets under custody, suggesting it could be easily covered from their balance sheet.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
Previous: According to The Defiant, Binance wallet outflows have expanded to three accounts, with 823 million USDC flowing out of hot wallet 34, and Binance 14 being emptied again 40 minutes after the initial outflow, suspected to be a hack.
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Next: Lookonchain: Binance hack involves over $5.8B, with $2.41B in stablecoins frozen
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