Binance Exchange Hacked Now? ❌ Rs 60,000 Crores Hacked 💰 Binance Hack Detailed Report #binancehack

Crypto City Tamil • 2 days ago

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What This Video Is About

This video discusses the recent Binance hack, its impact, and the current status of the situation. The hack occurred when attackers gained access through an engineer's laptop and sold assets, resulting in a massive loss of nearly $6.3 billion.

Major Ideas Discussed

  • The Binance hack has affected the crypto market, with a possibility of a bigger crash.
  • Binance assures users that funds are safe due to their reserve fund, which is not the case with some Indian exchanges.
  • The exchange has temporarily stopped deposits and withdrawals, blocked addresses from which funds were sent, and is tracing the funds with partners.
  • Users are advised not to panic and not to make any deposits or withdrawals until further notice.
  • The market may crash due to the hack, with estimated losses of $1.4 billion, $875 million, $234 million, $50 million, $1.5 billion, and $823 million for Bitcoin, Ethereum, TRX, XU, USDT, and USDC, respectively.
  • Users are advised not to sell and create a high chance of a market crash, as the market will start to rise again only after people gain confidence.

What to Watch Next

Users should monitor Binance's official Twitter or other reliable sources for updates on the situation and wait for the market to recover before making any decisions.