Binance Hack Drains $6.3B; $3B Frozen, Withdrawals Halted

The scale here matters less than the composition: roughly half the haul being frozen, mostly in centralized stablecoins, suggests issuer-level controls still bite even when hot wallets fail, while the rest is likely gone. Binance leaning on SAFU and company capital shifts the immediate question from solvency to credibility — whether withdrawals actually resume within the stated window and whether the fund's real depth matches the claim. The attribution to TraderTraitor also widens this from an exchange problem into a state-linked enforcement and sanctions story. What's worth watching is whether the freeze expands and how the 48-hour restoration holds.