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Binance Sets Aside $6.34B to Cover Hack Losses, CEO Says 'Your Assets Are Safe'

Publisher
Decrypt (News media)
Original
https://decrypt.co/382237/binance-sets-aside-6-34b-to-cover-hack-losses-ceo-says-your-assets-are-safe
Published
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Captured (UTC)Fetched viaHTTPRaw sha256Text sha256Text changed
firecrawl-web08200e6c1b24b8db9f34f326c1bfd69a52ed85046f23fa99a96b283766445f051eb7321a3dddcb61bf0bf39410f63db6141dbf07523b4c3caf8187371db638560a3e3No

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Claims quoted from this source

Reportedroot causeStatement 643

Richard Teng stated that the hack targeted Binance's own hot wallet and did not impact customer funds, which are primarily held in cold wallets.

Teng said the hack hit Binance's own hot wallet, not customer funds. "We never use any customer funds, so they are not impacted," he said, adding that most user assets are held in cold wallets and only moved into a hot wallet when a user withdraws.

Speaker
Richard Teng
Publisher
Decrypt (News media)
Original
Binance Sets Aside $6.34B to Cover Hack Losses, CEO Says 'Your Assets Are Safe'
Captured
Stored copy
sha256 e6c1b24b8db9
Published