Global Stock News

Binance founder Changpeng Zhao addresses the hack of the crypto exchange: ‘There’s no 100% security’

Binance founder Changpeng Zhao addresses the hack of the crypto exchange: ‘There’s no 100% security’

It has been a busy few days for Changpeng Zhao in the wake of the hack on the enormous crypto platform he co-founded, Binance.

“It’s been a pretty hectic process,” Zhao, better known in crypto circles as CZ, told Yahoo Finance. “But the good thing is right now the withdrawals have been restored, the systems back to normal. People are free to use the platform without any issues now. And then all user funds are covered. The users did not suffer any loss.”

Binance is the world’s largest cryptocurrency trading platform and holds approximately $171 billion in total assets on its platform. The company is led by co-CEOs Richard Teng and Yi Le.

Hackers recently drained roughly $6.3 billion worth of digital…

Source link

Share this article

Scroll to Top