Binance’s He Yi: $3B+ Net Funds Affected in Hack, 2% of User Assets

The headline number is less telling than the disclosure itself: a major exchange co-founder quantifying net exposure as a share of user assets and public reserves, and committing to a technical audit, sets a transparency bar peers may be measured against. The 42-hour withdrawal window is the immediate stress test — a longer freeze risks amplifying user anxiety beyond the actual loss. Whether the promised audit materializes with enough technical detail to be independently useful, rather than reputational messaging, is the open question.