Binance announced that it has dedicated company funds to fully address the impact of a security incident where hackers successfully extracted $6.3 billion. To offset the breach, the exchange allocated more than $6.34 billion, an amount that incorporates $5 billion already held in the impacted token assets. To reassure affected customers, the platform committed to publicly verifying all user balances through its proof of reserves system. External industry partners have simultaneously stepped in to freeze approximately $3 billion of the stolen cryptocurrency assets.
Oct 30 : Binance said on Friday it has reserved more than $6.34 billion in company funds, including $5 billion already held in impacted token assets, to deal with the fallout of an attack in which hackers stole $6.3 billion from the crypto platform.
All user funds will be verified publicly through its proof of reserves, and $3 billion in assets has been frozen with help from industry partners, Binance said.
Source: Reuters
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