Binance says 90% of stolen assets have been replenished
BROBROK News · Based on reporting by Cointelegraph ·
Binance said it has restored 90% of the assets stolen in its $6.3 billion hack and is still aiming to reopen withdrawals on Sunday. The exchange said it is covering the loss itself through corporate funds, part of SAFU, and a slice of its futures insurance fund.
Key points
- Binance said the replacement effort rose from 80% to 90% in one day.
- The company says users will not bear the financial loss from the hack.
- Funding is coming from corporate treasury, SAFU, and the futures insurance fund.
- The remaining gap is in less liquid tokens being bought through market and OTC trades.
- Binance says the full cryptographic proof of reserves is still being generated.
Why it matters
The update suggests Binance is moving quickly to contain the damage from a record crypto theft. It also highlights how reserve transparency and post-hack verification remain key issues for exchange users and the market.
Original headline: “Binance says 90% of stolen assets replenished, targets Sunday withdrawals”
Read the original on Cointelegraph
Summary and analysis written by BROBROK News from the original report. Read the full story on the source website. Not investment advice.