🚨 Binance may have just suffered the second-largest hack in crypto history. About US$2.7B left through addresses you can verify on-chain, all of it on Ethereum. Etherscan already labels the receiving address "Binance Hot Wallet Exploiter". Roughly US$2.3B is already frozen: Tether froze 1.567B USDT and Circle more than 800M USDC. The rest is ETH and other Ethereum tokens. Binance hasn't officially confirmed a hack. It's calling it a "technical error" on withdrawals. You may see a US$5.8B figure going around. It comes from a user-made label on Arkham, so it isn't confirmed. Not your keys, not your coins. 🫡

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The fact that $2.3 billion was frozen in minutes by Tether and Circle proves that centralized stablecoins are just legacy fiat money wearing a digital suit. The hacker made a rookie mistake keeping funds there, but this level of centralized on-chain censorship should terrify everyone. Only Bitcoin is true freedom from this control. ⚡
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