Binance recovers $73 million in stolen cash amid crypto market comeback
Binance recovered $73 million in stolen bitcoin this year.
An official release said the transaction exceeded $55 million in 2023.
Crypto market value is back over $2.154 trillion, and the top 30 cryptos are recovering.
BNB rises 5%, hovers around $500 early Thursday.
Binance, a major cryptocurrency exchange, recovered stolen customer assets from external parties via proactive measures. The exchange repeats the procedure annually, returning almost 80% of external exploit cash to customers.
BNB, the exchange's native coin, rose over 5% Thursday. BNB now trades at $505.
Security at Binance helps consumers recover $73 million in exploited crypto.
Binance said that $73 million in customer assets lost to external vulnerabilities had been recovered in 2024. Nearly 33% more than 2023's $55 million.
By suspending malevolent party payments transmitted to Binance, 80% of customer assets lost to theft, hacks, and vulnerabilities were recovered by July 31, 2024.
BNB rises 5%, near $500
BNB trades at $506.20 at the time of writing, hovering around $500 early Thursday. BNB may earn 18.30% further to reach $600. This token level was respected as a support between mid-March and July 2024.
The BNB/USDT daily chart shows resistance around $560.90, the 50% Fibonacci retracement level of the drop from the June 6 peak of $721.80 to the August 5 low of $400.
BNB may also find support in the $434–$462 Fair Value Gap (FVG). BNB might rise from this imbalance zone to its objective after collecting liquidity.
