Demo Exchange discloses $6.3B stolen · It pledges to “cover customer losses in full” and halts all deposits and withdrawals · An on-chain analytics firm says $2.8B has been frozen · After cross-checking 41 hot wallets, our figure is $12.84B
Updated 10-31 19:13
[Fictional Demo] That night, 50 signatures burned through the world’s largest exchange: a full teardown of Demo Exchange’s $6.3B hack — and the hole it will not admit
The official figure is $6.3B. What we verified is $12.84B. The harder problem is cash: paying every customer at once could cost this exchange its entire balance sheet.