Binance hack drained wallets backing customer assets, reserve data shows

Reserve data from Binance indicates that wallets which were drained were backing customer assets.

This same reserve data shows that the exchange's ether backing is currently estimated to be 6% short.

This shortfall will persist until Binance replaces the assets that were stolen.

Earlier coverage

• Binance Hacker Hunts for Exit Ramps as DeFi Exchanges Pause Markets Oct 29
• Why Switzerland’s first genuine spot bitcoin ETF could soon attract overseas banks and brokers Oct 29