Institutional crypto investors rush to pull funds from exchanges after Binance hack
Source: CoinDesk ·
From the source
The withdrawals suggest the fallout from the multibillion-dollar breach is spreading beyond Binance. Institutional crypto investors are rushing to withdraw digital assets from centralized exchanges following the multibillion-dollar hack of Binance, according to people familiar with the matter. The withdrawals suggest the fallout is extending beyond the world’s largest crypto exchange, putting the security of assets held on trading platforms back in focus, the people said, who spoke on condition of anonymity as the matter is private. Investors are looking to rebalance trading books following the hack, the people said. “Binance closely monitors emerging security vulnerabilities and takes proactive measures to protect our systems and users,” Jimmy Su, chief security officer at Binance, told CoinDesk in emailed comments. “In response to the recently disclosed PHP vulnerability, our security teams implemented additional protective measures ahead of the official patch release and…
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