Binance Co-Founder Says Hot-Wallet Theft Had More Than $3 Billion Net Impact

Binance co-founder He Yi said a hot-wallet theft had a net impact of more than $3 billion, a figure she put at roughly 2% of user assets and disclosed reserves. She said Binance paused withdrawals to protect assets and described user funds as safe. He Yi also thanked industry participants for their cooperation during the response, recognizing support from across the crypto industry. Binance plans to expand security investment and step up efforts against the hackers, she said. Those are the next steps He Yi identified as part of the response, alongside the assurance that user funds were safe.

Source: TokenPost