Back to news
SafetyHigh impact — Significance is rated automatically and is not a price signal.
Binance Says 90% of Stolen Assets Replenished, Plans November 1 Restart
(4 hours ago) · 2 sources · Summarized by CryptoBipto
Binance has announced that 90% of assets lost in a theft have been replenished and that the exchange is targeting a November 1 restart. The company says it is working to restore full operations after the security incident.
WHY IT MATTERS
When you store cryptocurrency on an exchange like Binance, the exchange holds your funds for you — similar to how a bank holds your money.
Read the full analysis with a CryptoBipto membership
Members read why every story matters and the full analysis behind it.
SOURCES
- thedefiant.io
- cointelegraph.com
RELATED
Exchange SecurityBinanceHack RecoveryCentralized ExchangesSelf-Custody
Learn the concepts behind this
Clear explanations of the subjects this article touches, with every term defined.
- How do you buy cryptocurrency safely?How crypto exchanges, verification, on-ramps and order types work, so you understand each step of a first purchase before you make one.
- How do crypto wallets and self-custody work?How crypto wallets, private keys and seed phrases work, the difference between hot, cold, hardware and custodial wallets, and what self-custody actually means.