00:00We believe approximately $6 billion was impacted,
00:04which would be about four times the amount of the previous largest hack,
00:08which was a $1.5 billion hack from Bybit.
00:11So it's a pretty material event.
00:14The good news, if there is any...
00:17When you say that $6 billion may be impacted,
00:21does that imply, are you saying that the bad actors have made off with $6 billion?
00:28Absolutely not.
00:30One thing that, if there's anything that you could say is good that came out of this,
00:34is we've seen the crypto industry mobilize very, very quickly.
00:38From Tether to Circle and other folks across DeFi,
00:43they've moved very quickly to freeze around $3 billion,
00:47according to the most recent reports.
00:49So very, very unfortunate situation.
00:53As I look at a situation like this,
00:56it absolutely must be addressed for this incredible technology to achieve its full potential.
01:04Now, it's very important in situations like this to not blame the victims.
01:09That's not what we need to do here.
01:11It makes me crazy when people focus on that.
01:14Now, of course, for sure, Binance and other folks will look at what happened.
01:19They'll look on ways to improve them.
01:20But what we really need to do is focus on the offenders
01:23and focus on policies and capabilities that prevent this going forward.
01:29There's some amazing things happening in crypto right now.
