Binance’s record-scale hack and a complete deposit and withdrawal suspension | Seo Dong-ju, Kim Dong-hwan and Digital Asset editor Park Sang-hyuk [Crypto PLUS]

An independent exercise, not a statement by the video creator or verification of every claim in the video.

Can frozen funds be subtracted immediately from the compensation gap?

Assume assets of 100 were stolen and 40 were frozen, but only 10 of the frozen amount has actually been returned. The remaining amount is 100-10=90; calculating 100-40=60 wrongly treats an additional 30 as recovered. A protection fund of 20, uncommitted to customer liabilities or other obligations, plus company funds of 70 that exclude that fund could cover 90. This means the company fills the gap with separate resources, not that another 90 of the stolen assets has been recovered.

Check for yourself

1. Have frozen and returned assets been separated, and is the protection fund already included in company resources and therefore double-counted?
2. Have customer liabilities and assets that cannot be used immediately been excluded from gross holdings?

Limits of application

All amounts are hypothetical and in the same unit, not estimates of Binance’s actual finances or recovery rate. Asset-price changes, recovery costs, legal priority, liquidation delays and opportunity costs during service suspension are excluded. Funding capacity and completed withdrawals require separate confirmation.