Binance says it has covered 80% of losses and plans phased withdrawals
BROBROK News · Based on reporting by DiarioBitcoin ·
Binance said in a second update that it has set aside more than $6.34 billion to cover losses tied to the hot wallet incident, which it says represents about 80% of the affected amount. The company also said it is sourcing the remaining 20% through market and OTC purchases while the investigation continues.
Key points
- Binance says user funds are not meant to bear the loss.
- The company updated the amount frozen on-chain to about $3 billion.
- It says it has not found evidence that private keys were leaked.
- Withdrawals are expected to resume in phases in about 34 hours, pending security checks.
- Binance plans an initial Proof of Reserves snapshot and a postmortem report.
Why it matters
The incident tests confidence in exchange custody and operations, especially after a major security event involving hot wallets. It also highlights how quickly such cases can affect withdrawals, transparency expectations, and market trust.
Original headline: “Binance dice que ya cubrió el 80% de los fondos afectados y espera reanudar los retiros en los próximos días”
Read the original on DiarioBitcoin
Summary and analysis written by BROBROK News from the original report. Read the full story on the source website. Not investment advice.