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Bitcoin fell below $77,000 after Binance was hacked, with BNB down 7.1%; He Yi pledged full compensation for user losses.
Bitcoin fell below $77,000 after Binance was hacked, with BNB down 7.1%. He Yi pledged full compensation for user losses. According to The Block, Bitcoin dropped 4.5% to $76,664 on Thursday evening due to the Binance hack, while BNB fell 7.1% to $698.65. Ethereum and XRP also declined by 5.2% and 7% respectively. Chainalysis estimates that approximately $5.9 billion was stolen in the attack, while Binance co-CEO He Yi stated that Binance would fully cover all user losses and had frozen about $3 billion in related funds. Coinbase CEO Brian Armstrong also said that they had blocked funds from being sent to the compromised wallets and offered assistance to Binance.
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Previous: Changpeng Zhao retweeted He Yi's post, reiterating the security of user funds on Binance and revealing that the team worked through the night with help from the industry, stating, "It hurts, but we will survive."
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