Despite Bitcoin (BTC) Recovery To $5,900, Analysts Remain Cautious Post-Binance Hack

Yesterday, Tuesday, saw world-renowned crypto exchange Binance get hacked for 7,000 Bitcoin (BTC), valued at $41-odd million at current valuations. For those who missed the memo, here’s a brief recap.

As reported by Ethereum World News previously, Binance’s Changpeng “CZ” Zhao suddenly shut down deposits and withdrawals on Tuesday, citing maintenance that was “unscheduled”. This came as a surprise to some, as the platform’s track record for announcing maintenance sessions was impeccable. Yet, CZ assured that “Funds are #SAFU,” referring to a crypto meme/inside joke that has become Binance’s favorite.

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