Binance estimated the Oct. 30 wallet incident had an overall financial impact of about $6.3 billion, while Strive, Inc. CEO Matt Cole said the subsequent decline in Bitcoin (BTC) was milder than expected.
In its Oct. 30 statement, Binance reported no indication that its wallet private keys had been exposed. The exchange also said blockchain partners had helped freeze affected assets valued at about $3 billion.
Cole said he had weighed weak market conditions alongside the incident's size when considering Bitcoin's response. He said the incident left his long-term view of Bitcoin intact, while he remained uncertain about whether prices had bottomed.
As of Oct. 23, Strive held 43,000 BTC; Cole's comments came eight days later. Paul Chapman, Wirex's head of financial crime, said the incident affected Binance's systems and did not involve Bitcoin's network.
EconoTimes previously covered Binance's Friday incident update.
