Binance recovers 90 percent of assets stolen in security breach
Binance states it has replaced the majority of funds lost in a $6.3 billion hack. The remaining portion is delayed due to the liquidity of specific tokens.
Binance has confirmed that 90 percent of customer assets stolen during a recent security breach have been replenished. The company estimated the total value of the stolen funds at $6.3 billion.
The firm intends to cover the remaining 10 percent of losses, though it notes that this portion consists of less liquid tokens that require more time to acquire on the open market. Binance has committed to covering the total financial impact of the incident for all affected users.
Withdrawals from the platform remain temporarily suspended following the breach. The company expects to resume full withdrawal functionality by Sunday as security protocols are finalized.