Binance Responds: Stolen Funds Came From Its Own Hot Wallet, Customer Assets Unaffected

on October 30, according to journalist Eleanor Terrett (@EleanorTerrett) relaying on the X platform, regarding external concerns about a reported hack at Binance causing an approximate $6 billion loss, a Binance spokesperson stated that customer funds were unaffected and the stolen funds originated from the exchange's own hot wallet. Binance indicated that the majority of customer funds are stored in cold wallets and are only transferred to hot wallets during user withdrawals. The spokesperson further noted that most of the company's daily operational revenue is held in cryptocurrency and reinvested, enabling it to immediately cover this loss using its own capital.