CZ: Actual Loss from Binance Theft May Slightly Exceed $1 Billion, to Be Fully Covered

According to TechFlow, on Oct. 30, Binance founder Changpeng Zhao (CZ) cited an estimate by DefiLlama founder 0xngmi on X and responded that the actual loss "may be slightly higher than this, but will be covered".

0xngmi previously said that Binance's assets under custody were about $144 billion, and after deducting the already frozen USDT and USDC, the actual loss from this incident was about $1 billion, accounting for approximately 0.69% of its assets under custody, which could be covered by its balance sheet. According to a post by World Liberty Financial co-founder Zach Witkoff, the stablecoin USD1 has proactively frozen about $27 million of funds related to this incident, and CZ later cited the post to express thanks.

TechFlow previously reported that the suspected theft from Binance exceeded $5.8 billion, with about 40% already frozen. The incident is still developing; please be mindful of risks.

Source: TechFlow