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Binance Hack Losses Hit Leveraged Traders Hardest, DayTrading.com CEO Says
Bitquery said the attackers lost about $119 million as fast-moving traders and arbitrage bots exploited price gaps across exchanges and blockchains.
Summary by Crypto Briefing
4 Articles
4 Articles
Frantic Binance Hackers Created Windfall for Crypto Traders
For most crypto investors, the theft of $6.3 billion from Binance was a reminder of the risks that still surround digital assets. For a small group of fast-moving trading firms and skilled investors, it was a chance to make a quick buck.
·New Delhi, India
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Binance reported that it would cover the stolen assets with funds from the company. Reuters reported that by October 31, USD 6 billion had already been recovered from $6.3 billion. Following the October 29 incident, Bitcoin fell and liquidations took place; the estimates cited by different publications differ. Tobias Robinson, from DayTrading.com, argued that leveraged traders faced the immediate impact of the fall.
Coverage Details
Total News Sources4
Leaning Left0Leaning Right1Center1Last UpdatedBias Distribution50% Center, 50% Right
Bias Distribution
- 50% of the sources are Center, 50% of the sources lean Right
50% Right
C 50%
R 50%
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