According to the latest information, Changpeng Zhao, founder of Binance, the world’s largest cryptocurrency exchange, spoke about the major Buybit Hack incident in his statement.
Bybit recently lost more than $1.46 billion in assets in the hack, but CEO Ben Zhou revealed that its client assets are still supported at 1:1.
Binance founder and former CEO Chanpeng Zhao spoke about the massive hack at his former rival Bybit and called for a replacement to suspend withdrawals of all customer assets as a precaution.
“This is not an easy situation. As a standard security measure, we recommend temporarily suspending all withdrawals. We will provide the assistance you need. Good luck.”
Meanwhile, he responded to his followers who opposed the suspension of asset withdrawals, claiming that it spread the fear.
“$1.5 billion is scary enough. It’s safer now than sorry.”
*This is not investment advice.
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