Binance Sets Aside 6B for Hack Losses
Binance has reserved more than 6.34 billion dollars in company funds to address the aftermath of a recent cyber attack. The platform confirmed that user funds will be verified through public reserves as industry partners help freeze stolen assets.
Binance has reserved more than $6.34 billion in company funds to cover losses following a cyberattack that drained $6.3 billion from the crypto platform. The reserve includes $5 billion already held in impacted token assets. The emergency fund deployment follows one of the largest security breaches in the digital asset sector.
