According to CoinMeta, a spokesperson for Binance stated that despite reports of a $6 billion hacker attack on the exchange, customer funds were not affected. The stolen funds came from one of the exchange’s hot wallets. The spokesperson mentioned that most customer funds are stored in cold wallets and are only transferred to hot wallets when users make withdrawals. He said, “Most of the funds we earn from our daily operations are held in the form of crypto assets. We keep a significant portion of these funds within the company and reinvest them in the business and security efforts, as we believe in the crypto industry and its long-term value.” The spokesperson added, “This is precisely why we were able to absorb such a large loss immediately with our own funds.”