Binance Co-CEO says broker is in solid financial health after $6.3 billion theft
Richard Teng states that the post-incident analysis will come out in due time and that the brokerage's flows are practically normalized
BY THE X-TRADER NEWS NEWSROOM · REPORTING FROM INFOMONEY · 2 MIN
The previous week, Binance suffered a $6.3 billion cybertheft. According to InfoMoney, with information from Reuters, co-CEO Richard Teng stated that the brokerage has very solid financial health.
The statement was made on Tuesday (3/11), during Fintech Week, in Hong Kong. Teng also said that the post-incident analysis will be released in due course, with no date set.
When talking about the operation, the executive stated that entry and exit flows, measured per hour, are practically normalized. According to him, 95% of the affected tokens have been replaced.
Teng also said that the episode may have been the biggest robbery in financial history. The statement gives the dimension of the case, which is still awaiting the company's complete analysis.
What is at stake is trust. In markets where the credibility of the platform weighs as much as the price of the asset, the way the company communicates the case has weight comparable to that of the numbers.
For those who follow the sector based on market logic, the central issue is transparency. The clearer the explanation about causes and replacement, the less uncertainty tends to be. To date, however, the company has not announced a date for releasing this analysis.
What changes for the investor
In the facts found, there is no direct link between the case and the traditional stock markets, Nasdaq, interest rates or the dollar. It serves, however, as a reminder of the operational risk in digital assets. Until the report is released, the investor will have less information to measure the extent of the loss and the solidity declared by the broker. It is worth monitoring the release date and the next numbers announced by the company.
Automatically translated from Portuguese.
