Binance hack: Why its US affiliate is unaffected
On October 29, Binance.US, the U.S. affiliate of cryptocurrency exchange Binance, reported that it was not affected by the $6.3 billion security incident impacting the parent company. The U.S. exchange emphasized that customer funds are secure and services are operating normally. Binance.US clarified that it operates as an independent platform, distinct from the global Binance exchange, to comply with U.S. regulatory requirements.
The platform has a separate account system, legal responsibilities, and offers different cryptocurrencies and trading features compared to the global exchange. Binance.US stated that the breach involving the global platform did not impact its operations, reiterating the safety of customer funds and the normal functioning of its services.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
