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How Binance Plans To Cover $6 Billion Hack Without Hitting Customers
The post How Binance Plans To Cover $6 Billion Hack Without Hitting Customers appeared first on Coinpedia Fintech News Binance says customer balances are untouched by this week’s hack because the stolen crypto came…
· 1 min read · 147 words · via Coinpedia
Wire briefing
The post How Binance Plans To Cover $6 Billion Hack Without Hitting Customers appeared first on Coinpedia Fintech News Binance says customer balances are untouched by this week’s hack because the stolen crypto came from one of its own hot wallets, which the exchange legally owns. A Binance spokesperson explained the setup to journalist Eleanor Terrett. When users deposit crypto on an exchange, the platform typically takes ownership of the assets and credits each …
Source: Coinpedia. This is a wire summary for GetFreeBit readers - verify the original report before making custody, trading, or tax decisions. Not financial advice.
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