After Binance’s $6.3 Billion Hack, Austin Campbell Calls for a 24-Hour Clock on Billion-Dollar Crypto Moves
By Unchained
AI summary of the source article
Following Binance's $6.34 billion hot wallet theft on Oct. 29, industry figures called for traditional financial risk controls like transfer time delays. Binance reported covering 98% of impacted assets and implementing tighter security fixes.
Key facts
- Binance lost approximately $6.34 billion from hot wallets on Oct. 29 across ten blockchains.
- Zero Knowledge Group founder Austin Campbell urged crypto protocols to adopt a 24-hour hold on billion-dollar transactions.
- Binance replenished 98% of impacted token assets by Oct. 31 and saw customers withdraw a net $3.64 billion after withdrawals reopened.
Source excerpt · Unchained
The Zero Knowledge Group founder said on Bits + Bips that crypto was built for tech risk, not financial risk, and that a $1 billion transfer should face a 24-hour clock. The post After Binance’s $6.3 Billion Hack, Austin Campbell Calls for a 24-Hour Clock on Billion-Dollar Crypto Moves appeared first on Unchained .