As the dust settles from Binance’s $40 million hack, crypto Twitter has been discussing why only Bitcoin was stolen. Twitter user Matt Odell suggested it was because Bitcoin is seen as the most trustworthy cryptocurrency.
Binance was the latest victim as hackers managed to bypass the exchange’s security measures with a coordinated attack using sophisticated measures, resulting in the loss of 7,000 Bitcoin, valued at around $40 million.
Changpeng Zhao considered what's known as a reorg, which would essentially undo the hack and transfer the funds stolen by the hackers to miners. Ultimately, Zhao decided it on the grounds if t being far too difficult. As CZ tweeted at the time:
To put this to bed, it's not possible, bitcoin ledger is the most immutable ledger on the planet. Done.
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It seems as if many in the community agree with CZ’s sentiment regarding Bitcoin’s immutability which many feel this shows the cryptocurrency’s superiority over altcoins. Some have said that the hackers know this and chose to steal Bitcoin because they knew a reorg wouldn’t happen.
Matt Odell’s tweet sums it up:
The reason bitcoin was stolen from binance and not any of the 100s of shitcoins they also offer is precisely because those chains are easy to rollback - or freeze - while bitcoin is not.
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His tweet garnered quite a lot of support, with many others in the community agreeing.
Keep pushing man!
I am truly upset that someone like @cz_binance think that they can just change the bitcoin blockchain because they messed up.
I know they can’t, even if they but all their resources into it. But it still triggers me.
They wanna play, but they don’t wanna lose.
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Very true. CZ will delist the coin if they don't budge.
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CRYPTOLOGIST's other Tweets
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Despite the hack, bitcoin managed to break through $6,000 earlier today. At the time of writing, Bitcoin is trading at $6,095.64, up 2.17% over 24 hours.
