Binance USDT Balances Drop 7.95% Following $6.3B Hack

Binance reported a 7.95% drop in user USDT balances in its October 31 proof-of-reserves snapshot, following a $6.3 billion security breach. The exchange also recorded lower Ethereum and BNB balances, while Bitcoin holdings rose before withdrawals reopened on November 1. According to the latest figures, there has been a reduction of USDT of 2,544,682,319, making the total number of USDT held to 29,483,062,742. This data is between October 1 and October 31. According to Binance’s most recent snapshot, the company had 692,187 BTC, which is an increase by 3,614 BTC, or 0.52%, compared to October 1.