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CZ publicly pushed back on Elon Musk's trolling as Binance deals with a $6.3 billion hack. He pointed to the roughly $500 million Binance invested in the Twitter deal, now reportedly worth over $1 billion. The exchange's hack is the main market concern for traders here.
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Binance's roughly $6.4B hack overshadowed Hyperliquid's record day, even as Hyperliquid opened a path to a regulated U.S. perps offering.
An explainer on the Binance hack says an attacker drained about $6.15 billion across nine blockchains in 31 minutes, per BitOK's tracing. The attacker did not steal private keys but got Binance's own systems to approve transfers. The piece walks through how hot wallets, signing and nonces were involved.
Binance says it has reserved over $6.34B to cover hack losses, with withdrawals still paused during a security overhaul.
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Security experts say the Ethereum EIP-7702 upgrade did not cause the Binance hack but may have helped attackers bypass withdrawal safeguards and amplify losses.
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CZ said Binance is about $2 billion short after the roughly $6.3 billion hack, with about $3 billion frozen and a $1.17 billion SAFU fund. He pointed to Binance's SpaceX shares as part of the gap. Withdrawals remain paused, which keeps uncertainty high for BNB holders.
Following Binance's record $6.3 billion hack, THORChain's RUNE rose 13% as calls grew for the protocol to intervene in laundering.
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Chainalysis says the Binance hacker moved $325 million through swaps to evade freezes, with about $2.8 billion in assets frozen overall.
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CZ says the Binance hack leaves a $2 billion funding gap and points to SpaceX shares, though the financing plan is not spelled out.
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Unit has delayed all deposits and withdrawals because of Guardian screening tied to the Binance breach, which has about $3 billion frozen.
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Binance's CEO says the breach was not a one-click attack, while withdrawals stay paused and deposits run normally.
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India's CoinDCX restricted new futures positions after the Binance breach disrupted a key liquidity provider, while user funds remain safe.
TRM Labs says the Binance hack began with a $296 million XRP drain, after the attacker spent 36 hours preparing the operation.
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Binance expects to resume withdrawals within 48 hours, says deposits run normally, and reiterates it will cover losses from the $6.3 billion incident.
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Binance suspended withdrawals after billions of dollars in assets left wallets it controls on Thursday, with estimates rising from $2.54 billion to over $5.8 billion. Arkham reported the outflows exceeded $5.8 billion by 8 pm. The incident ranks among the largest crypto heists on record.
Binance reserve data shows drained wallets backed customer balances, leaving its ether reserves an estimated 6% short until stolen funds are replaced.
Binance says attackers may have used a compromised DevOps laptop to reach its internal infrastructure during the $6.3 billion breach.
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Binance says customer funds are safe, while issuer freezes do not show how much has been recovered or ultimately lost.
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Bitcoin, ether and the wider market dove after Binance's multibillion-dollar hack, with BNB falling 8% and bitcoin nearing $77,000.
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Binance paused withdrawals amid a suspected hack, saying user funds are safe, while Tether froze over 1.567B USDT.
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Privacy Pools v2 launched on BNB Chain, offering shielded payments and yield for BNB and stablecoins, with screening still required.
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