Binance covers 90% of losses from $6 billion hack, aims for full recovery

economia.uol.com.br (Portuguese) —

Binance has recovered 90% of losses from a $6 billion hacker attack, the cryptocurrency exchange announced today. The company aims to fully restore all stolen funds. The ten most-traded stolen cryptocurrencies, including bitcoin and ether, have been fully covered. The remaining 10% involves less-liquid tokens, making large purchases difficult and potentially delaying replacement. Binance is using its SAFU emergency fund, insurance reserves, and company cash to cover losses. The exchange plans to replenish SAFU to $1 billion and will publish updated reserve data on Tuesday.


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