this post was submitted on 30 Oct 2026
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Attacker gets away with up to $3 billion from Binance (www.citationneeded.news)
submitted 3 days ago by otter@lemmy.ca to c/technology@lemmy.world
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Article is by Molly White, who you might recognize from Mastodon and web3isgoinggreat.com:

https://hachyderm.io/@molly0xfff/117526961419935070

I wrote up what we know about the Binance hack so far. By my best estimate, Binance is out around $3 billion after stablecoin issuers froze what they could. Changpeng Zhao is promising Binance will cover it, but he’s legally barred from running the company.

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[–] qwerty@discuss.tchncs.de 2 points 1 day ago (1 children)

How many people buy houses as an investment instead of living in them, how many people buy oil as an investment instead of using it for fuel, how many people buy gold and silver as an investmen instead of using them for jewelry or industrial applications, how many people buy dram as an investment instead of putting it in their computers... I guess it's all a scam then? What a dumbass take. Besides, store of value is one of the intended purposes of a crypto currency, I don't see how you can hold against it the fact that more people are opening their eyes to how valuable this property of crypto really is in the face of their life saving being vaporized by the money printer.

M2 - money supply, USD

Bitcoin supply

Monero supply

[–] Croquette@sh.itjust.works 1 points 1 hour ago

How many people buy houses as an investment instead of living in them, how many people buy oil as an investment instead of using it for fuel, how many people buy gold and silver as an investmen instead of using them for jewelry or industrial applications, how many people buy dram as an investment instead of putting it in their computers... I guess it's all a scam then?

Many of them, yes.

Not sure what you are trying to show with your graphs, but if you cannot use bitcoins to buy everyday stuff, then it's value is still tied to the economy and every advantages crypto has is almost all moot because you can't pay rent or buy groceries or a new car. So it's your local currency with extra steps, and good fucking luck using your coins in a case of emergency.

Its value is directly linked to the economy, if the Fed is printing money, your crypto coins will lose value.