Tom Lee calls Ethereum’s 4% post-hack fall bullish
Summary
Tom Lee said Ethereum’s roughly 4% decline after the $6.3 billion Binance hack, compared with a steeper fall after Bybit’s breach, suggested crypto markets are more resilient. Binance pledged company funds to cover losses and said it had replenished about 95% of affected assets. Elliptic reported that roughly 44% of the stolen funds had been frozen or seized, while about $3 billion remained in linked addresses. Stablecoin issuers restricted compromised tokens, and the FBI attributed the attack to North Korea’s TraderTraitor group. Lee said the breach involved corporate infrastructure rather than a blockchain protocol failure. BitMine continued accumulating ETH, though its broader portfolio value fell from $17.4 billion to $14.5 billion.
