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An independent record of the October 2026 Binance hack
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But crypto history watchers have been pointing out online that this is exactly the kind of message that FTX CEO Sam Bankman-Fried gave before his crypto exchange collapsed in 2022, leading to huge losses for customers and the industry.
The company said in 2024 that it had more than $160bn in assets under its custody.
This was not carried out by one person.
It had initially suspended all deposits and withdrawals - but then said in an update that "deposits remain unaffected".
Several experts have warned customers not to regard Binance's promise to cover losses as legally binding and said they may need to pursue litigation to recover them.