Binance covers 90% of $6.3 billion hack losses, withdrawals to resume Sunday

channelnewsasia.com —

Binance has used company funds to cover 90% of the $6.3 billion stolen in a major hack, with user withdrawals on track to resume Sunday. The world's largest crypto exchange said it will fully cover the financial impact, noting the remaining 10% of tokens are less liquid and may take longer to source. It has set aside over $6.34 billion for losses. The attack, linked to North Korean hackers, caused major cryptocurrency prices to fall. The FBI is investigating, and President Trump said the U.S. is looking into the incident amid concerns about AI compromising security protocols.


With a significance score of 4.5, this news ranks in the top 2.4% of today's 31476 analyzed articles.

Get summaries of news with significance over 5.5 (usually ~10 stories per week). Read by 10,000+ subscribers: