Strive CEO Matt Cole said the roughly $6.3 billion Binance hack had not changed his long-term investment case for Bitcoin, but said it was too early to know whether Bitcoin had reached a price bottom. Bitcoin traded near $77,400 on Saturday, about 4% below its price shortly before the attack began, according to CoinGecko data. Cole and Wirex financial crime director Paul Chapman said the attack targeted Binance’s systems, not Bitcoin’s network.
Glassnode called the breach the largest cryptocurrency hack on record. Blockaid CEO Ido Ben-Natan said attackers appeared to have compromised Binance’s transaction signing process. Binance said it had found no evidence of leaked wallet private keys, but its investigation was ongoing.
