Binance net outflows reach $5.3 billion after record hack. CEO says recovery underway
Summary
Cryptocurrency exchange Binance faced nearly eleven billion dollars in departures following a major security breach. Net outflows eventually reached over five billion dollars within a short timeframe. However, the company leadership reported that incoming deposits have started to surpass the amount being withdrawn.
Nearly $11 billion left the exchange over 46 hours, although CEO Richard Teng said hourly deposits were beginning to exceed withdrawals.
Source: Read the full story at CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
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