Binance, described as the largest crypto exchange, has replaced 98% of coins lost in a hack, according to a report.
The report raises questions about whether Binance will survive, though it does not detail the circumstances of the hack or when it occurred.
Key facts
- Binance has replaced 98% of hacked coins
- Binance is identified as the largest crypto exchange
- The report questions Binance’s survival
What the report says about the replaced coins
The figure of 98% refers specifically to coins that were replaced following the hack. No further detail on the amount involved or the timing has been disclosed in the report, which was first covered by 24/7 Wall St.
What remains unclear about Binance’s standing
The report questions whether Binance, as the largest crypto exchange, will survive, without stating the reasons behind that question. Readers following the crypto sector will be watching for further detail on the exchange’s position.
