Binance was hacked around 5 AM, and the stolen funds may be the largest theft in the industry's history. The hackers are using every method to launder money. @bitfish, a commentator, recounted the Binance hack, stating that the attackers rehearsed twice beforehand and prepared a list of 64 different tokens to transfer. Currently, Binance deposits and withdrawals are suspended. An announcement states that this is for comprehensive security checks. Below is a statement from @heyibinance, the head of the Binance team, and a brief overview of the current situation. @heyibinance stated that user funds are safe, and Binance will bear all losses from the hack. According to the October 1st reserve certificate snapshot, the reserve ratios for major assets such as BTC, ETH, USDT, and BNB are all above 100%, with user assets fully covered 1:1, further guaranteed by the SAFU user protection fund. I think Binance's compensation should be relatively straightforward, but industry confidence may be severely damaged. Where will everyone's money go now? This may be a long-term problem.