Is Binance Hacked ?

[sidrabtc]

The last 30 minutes of serious movement on social media about the possible hack of Binance with founder CZ also tweeted about this even though there is no confirmation about this, and they are also claiming that all funds are safe, but millions of their customers are now checking their funds.

Around $2 billion in funds are moved away to a new address, which was created a few hours ago, and the crypto market is also on a big decline due to these rumors. Updates are still coming, but things are not looking good due to these fund movements.

Source:   Link

[New Judgement]

There were news about the hack, although the exchange has said they will publish detailed information about the whole incident. Although they said there no need for customers to be worried about anything as their funds are safe. Report have it that Circle has freeze the USDC inside the wallet that was associated with the exchange hack. Waiting for the exchange to publish the full details of what happened. These are terrible times for crypto investors.

[o48o]

There were news about the hack, although the exchange has said they will publish detailed information about the whole incident. Although they said there no need for customers to be worried about anything as their funds are safe. Report have it that Circle has freeze the USDC inside the wallet that was associated with the exchange hack. Waiting for the exchange to publish the full details of what happened. These are terrible times for crypto investors.

But that's what they are supposed to say... "Funds are safu". Opposed to saying that customers should be worried about their funds.
Even when another exchange hints about it, it could lead to  be a dead sentence. Remember how CZ started bank run from FTX with just one tweet insinuating that everything might not be ok in FTX?

But binance had enough money to survive this. And good thing about centralization is that Tether and Circle just froze nearly $2B in stablecoins because of that hack. If that would be fully decentralized and permissionless money, it could be end of Binance and it would take for ages for crypto community to heal from this.

[FinneysTrueVision]

I did receive an alert this morning about this transaction because I was watching for large transfers involving specific tokens. I thought it was really strange that Binance would be sweeping so many tokens into another address and wondered whether it was a hack or if they were rotating wallets for some reason. I hadn’t noticed that the address was funded by Tornado Cash but that does suggest it was a hack.

A lot of the tokens that were stolen are smaller cap altcoins that they are going to have trouble selling for their full value. They are already starting to sell off some coins through Uniswap in batches and it is crashing their price.

[asriloni]

The total funds moved by hackers are around 5.6b , but 3b is recoverable because it's already frozen by Circle and Tether. Meanwhile, the rest are related to the native and altcoin which don't have frozen function. The binance representative also says that it's all due to the one of their engineer's laptop got compromised, and it's not due to security breach.

Beside that they also say they will recover all of the money. It seems all of big crypto companies are working on solution over this hack.