CZ: Binance hack impact far smaller than Mt.Gox’s blow to Bitcoin

TREE NEWS update: Changpeng Zhao said the Binance hack, though the largest ever in dollar terms at $6.3 billion, was smaller than Mt.Gox by Bitcoin count, since Mt.Gox lost about 650,000 BTC, more than 5% of total supply. He said impact should also be judged by the number of affected users and the share of their assets lost: Mt.Gox and FTX users were almost fully affected, while in the Binance case only the platform itself was the victim and user assets were untouched, with Binance bearing all losses. CZ called the incident a major blow to the industry, Binance and himself, but said Binance can survive it, with protecting users the priority.