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The Binance Hack

An independent record of the October 2026 Binance hack

All people and organisations

Idan Ofrat

People

The statements below are attributed to this speaker by the cited sources. Appearing here is not an accusation.

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ReportedreservesStatement 1765

Idan Ofrat, co-founder and chief product officer at Fireblocks, said exchanges typically keep enough funds in hot wallets to cover a few days of expected withdrawals, often representing a low single-digit percentage of assets under management.

Idan Ofrat, co-founder and chief product officer at Fireblocks, said exchanges typically keep enough funds in hot wallets to cover a few days of expected withdrawals, often representing a low single-digit percentage of assets under management.

Speaker
Idan Ofrat
Publisher
Cointelegraph (News media)
Original
Binance’s $6.3B hack leaves questions over hot wallet safeguards
Captured
Stored copy
sha256 188a7d4c7b0f
Published