My money’s melting. This is gonna hurt once the US traders wake up.
The scale of this hack is massive, and the industry is moving in lockstep before the full picture is clear. It naturally raises suspicion that there might be more to this than just an external attack — similar to how FTX initially looked.
That said, Binance is officially framing this as an external hack (with suspicion directed at North Korea) and has said it will cover all losses, so it’s not exactly the same as FTX. Still, the speed of the industry’s response before the full truth is out is making a lot of people uneasy.
The scale of this hack is massive, and the industry is moving in lockstep before the full picture is clear. It naturally raises suspicion that there might be more to this than just an external attack — similar to how FTX initially looked.
That said, Binance is officially framing this as an external hack (with suspicion directed at North Korea) and has said it will cover all losses, so it’s not exactly the same as FTX. Still, the speed of the industry’s response before the full truth is out is making a lot of people uneasy.