Binance sets aside over $6.34 billion to cover losses from attack

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Binance logo and hacker code are seen in this illustration taken October 30, 2026. REUTERS/Dado Ruvic/Illustration
Binance logo and hacker code are seen in this illustration taken October 30, 2026. REUTERS/Dado Ruvic/Illustration
Binance logo and hacker code are seen in this illustration taken October 30, 2026. REUTERS/Dado Ruvic/Illustration

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Oct 30 : Binance said on Friday it has reserved more than $6.34 billion in company funds, including $5 billion already held in impacted token assets, to deal with the fallout of an attack in which hackers stole $6.3 billion from the crypto platform.

All user funds will be verified publicly through its proof of reserves, and $3 billion in assets has been frozen with help from industry partners, Binance said.

Source: Reuters

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