Binance Expects Withdrawals to Resume Within 42 Hours After $6.3B Incident

Binance expects to reopen withdrawals within 42 hours after an incident affected $6.3 billion in assets, with co-CEO 何一 describing it as a hack and saying $3 billion was frozen. In a video posted to X, 何一 said Binance suspended withdrawals to make sure its wider operating environment was not compromised. She said participants across the crypto industry helped freeze the funds. The $6.3 billion figure refers to affected assets, while $3 billion covers funds frozen during the response. 何一 said Binance’s daily revenue and holdings are mostly crypto assets.

Also reported by The Defiant, AMBCrypto.

Source: TokenPost