Richard Teng addressed the historic security incident during remarks at Hong Kong Fintech Week on Tuesday. He reported that hourly transaction flows have largely returned to normal and that 95 percent of the compromised tokens have already been replaced. Customers had previously withdrawn a net $4.72 billion by Monday in response to the theft. Binance plans to release a comprehensive post-incident review, while North Korea continues to deny FBI accusations that it orchestrated the attack.
Key points
Operational activity at Binance is stabilizing with hourly inflows and outflows returning…: Operational activity at Binance is stabilizing with hourly inflows and outflows returning to normal levels after the attack.
Management plans to publish a comprehensive review detailing the specifics of the multi-b…: Management plans to publish a comprehensive review detailing the specifics of the multi-billion-dollar security failure.
North Korea strongly rejected the United States government's attribution of the attack, c…: North Korea strongly rejected the United States government's attribution of the attack, calling the allegations absurd rhetoric.
Sources checked by our analysis pipeline: 1
HONG KONG, Nov 3 : Binance co-CEO Richard Teng said on Tuesday the company is in very strong financial health and a "post mortem" of its $6.3 billion cyber heist will be released in due course.
Teng told a Hong Kong Fintech Week event Binance's hourly inflows and outflows had "pretty much normalised" and 95 per cent of the affected tokens had been replenished.
Binance said earlier that customers had withdrawn a net $4.72 billion as of Monday after the exchange was hit last week with what could be the largest-ever financial heist.
The FBI said at the weekend that North Korea was responsible for the theft of more than $6 billion in crypto assets, a crime that sent shockwaves through the industry. North Korea rejected the allegations and said they were "absurd rhetoric".
Official advance estimates indicate an ongoing economic recovery, with the city now maintaining expansion for 15 consecutive quarters. The latest growth figures substantially outperformed analyst projections, signaling stronger underlying momentum than financial markets had anticipated. This robust pace reflects continued resilience following solid output recorded throughout the earlier half of the year.
Market participants are driving upward momentum in the equity during the latest trading session. The movement reflects immediate trading activity surrounding the company as market action unfolds. Further developments and drivers remain closely monitored by industry observers.
Market participants are driving upward momentum in the equity during the latest trading session. The movement reflects immediate trading activity surrounding the company as market action unfolds. Further developments and drivers remain closely monitored by industry observers.