CZ Binance: $6.3B Hack Largest in USD but Not BTC Terms
CZ Binance noted that the $6.3 billion exchange hack ranks largest in USD terms yet trails MtGox in BTC volume and supply percentage, limiting bitcoin price reaction as the platform absorbs the loss.
SourceAnalysis
CZ Binance addressed discussions on the recent $6.3 billion exchange hack, clarifying it exceeds prior incidents in USD value but falls short of MtGox in raw BTC terms at 650,000 coins and over 5% of total supply.
The post stressed that full platform coverage in the latest cases, unlike the near-total user asset wipeouts at MtGox and FTX, confined damage to one victim and muted broader market fallout.
Bitcoin trades at $77612.4 inside its Bollinger band on the 4h chart with bearish structure as price sits below both EMA50 at $80326.74 and EMA200 at $81495.36, while MACD registers a death cross at -792.43 and RSI at 35.59 shows neutral momentum; the lower band support at $76931.57 now acts as immediate floor before any test of upper resistance near $82950.92.
CZ_BNB
@cz_binanceFounder and former CEO of Binance, the world's largest cryptocurrency exchange. Shares insights on cryptocurrency adoption, blockchain technology development, and personal perspectives on building in the Web3 space, while navigating regulatory challenges and industry evolution.