Binance reserves show hacked wallets backed customer assets
In short
Binance’s reserve data shows that hacked wallets were backing customer balances. CoinDesk says Binance’s ether backing is now about 6% short until the exchange replaces what was stolen.
This matters because it raises questions about reserve coverage for customers. The report does not say when the hack happened or how much crypto was stolen.
What the reporting says
Binance’s reserve data shows drained wallets that backed customer balances after a hack, according to CoinDesk’s summary. The exchange’s ether backing is estimated to be 6% short until Binance replaces what was stolen. The reporting does not say when the hack happened or how much was taken, but it indicates a reserve gap tied to customer assets.
Why it matters
Binance’s own reserve data reportedly lists the drained wallets as backing customer balances after a hack. CoinDesk says the exchange’s ether backing is estimated to be 6% short until Binance replaces the stolen assets. The story points to a reserve gap affecting customer balances, but the timing of the breach and the stolen amount are not stated in the available reporting.