Binance CEO Richard Teng has reaffirmed Binance's commitment to supporting BtcTurk following a recent cyberattack. Binance froze over $5.3 million in stolen funds linked to the hack, demonstrating proactive efforts to mitigate losses. BtcTurk halted deposits and withdrawals in response, assuring users that most assets are secure in cold wallets. The incident highlights Binance's role in enhancing security measures and combating illicit activities in the cryptocurrency space, emphasizing collaboration between exchanges to protect user funds and maintain trust in the market.
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