Binance Covers 90 Percent of Hack Losses
Crypto exchange Binance announced it has replaced ninety percent of the funds stolen during a recent six billion dollar hack. The company utilized internal reserves to cover the losses and protect users.
Binance has replaced 90% of the $6.3 billion stolen during a record platform hack by using corporate funds to purchase new tokens. The breach ranks as one of the largest cyberattacks in cryptocurrency history, eclipsing previous exchange thefts. Investors face zero financial impact as the exchange absorbs the loss, according to leadership.
