Update
Binance Co-Founder Compares $6.3B Hack to Mt. Gox and FTX
Binance co-founder Changpeng Zhao compared the exchange's $6.3 billion security incident to the Mt. Gox hack and FTX collapse. Zhao noted that the dollar value of stolen funds does not tell the full story of an exchange failure. He highlighted differences in customer exposure and the nature of the attack, stating that Binance's incident involved a hot wallet rather than customer deposits.