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Binance Reports $5.8 Billion in Net Outflows After Withdrawals Resume Following Major Hack
(2 hours ago) · 1 source · Summarized by CryptoBipto
Binance has experienced $5.8 billion in net outflows after the exchange resumed withdrawals following what is described as a record hack. The surge in withdrawals indicates users moving funds off the platform in the wake of the security incident.
WHY IT MATTERS
When you keep cryptocurrency on an exchange like Binance, the exchange holds your funds for you, similar to a bank holding your money.
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SOURCES
- cointelegraph.com
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BNBExchange SecurityBinanceCrypto HacksUser WithdrawalsSelf-Custody
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