Binance major shareholder says user funds are safe after reported $2.5B hack

Oct 29, 2026 9:57 PM

Binance claims there is "no confirmed impact" to user funds, yet analysts report a staggering $2.5 billion has been drained from their hot wallets. The only reason this isn't a total catastrophe is that centralized companies like Tether and Circle froze the funds—completely undermining the "decentralized" ethos of crypto. If your "safe" assets require a centralized kill-switch to survive a hack, is the entire system a lie? Can we ever truly trust an exchange again?
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