Binance says it has replaced 90% of stolen crypto after massive $6.3 billion breach
Source: CoinDesk ·
From the source
Binance is absorbing all losses through corporate funds, futures reserves, and SAFU, keeping user balances intact. Binance says it has replenished 90% of the cryptocurrency stolen in Thursday’s $6.3 billion hack and remains on track to reopen withdrawals Sunday, Nov. 1. The figure is up from about 80% in its previous update, and the exchange detailed that customer holdings of bitcoin, ether, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC are now fully backed. The remaining 10% consists of less liquid tokens that Binance said may take longer to acquire in the required quantities. Binance said it is buying them through public markets and over-the-counter trades, working with industry partners to complete the purchases. Binance had already set aside more than $6.34 billion in company funds, including $5 billion held in the affected cryptocurrencies. Those resources were separate from roughly $3 billion in stolen assets that partners had frozen. “Binance will absorb the financial impact…