Pretty sure Binance was the first exchange to socialize the losses of a hack into an aidropped token to all users - which then allowed users of the exchange to gamble on the future on whether or not they’d be made whole.

Feels like the origin story of BNB chain to me

That was Bitfinex, and honestly it was the best possible outcome. Far better than what ftx users are likely to get.

You are correct, my bad

That was Bitfinex as far as I remember, exchange based in Hong Kong. They are the guys behind Tether which also many people think is not backed up by real assets.

Yeah good ‘ol Finex