Binance: Has Covered $6 Billion in Stolen Asset Losses
TechFlow reports that on November 1, according to an official announcement from Binance, it has completed the replenishment of approximately $6 billion in assets involved in the losses from this hacking incident. Meanwhile, Binance confirmed that the transfer of funds from the Secure Asset Fund for Users (SAFU) has been completed, involving 7,499 BTC.Previously, in Security Incident Update No. 3, Binance stated that it had earmarked over $6.34 billion in corporate funds to cover the stolen losses, and the coverage ratio for affected assets has been increased from 80% to 90%. Among them, 10 assets including BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC have achieved 100% reserve coverage.Binance stated that the sources of funding for the replenishment include part of the SAFU fund, the Futures Insurance Fund, and company's own funds. The remaining assets awaiting replenishment are primarily low-liquidity tokens, which will continue to be purchased through public markets and
TechFlow reports that on November 1, according to an official announcement from Binance, it has completed the replenishment of approximately $6 billion in assets involved in the losses from this hacking incident. Meanwhile, Binance confirmed that the transfer of funds from the Secure Asset Fund for Users (SAFU) has been completed, involving 7,499 BTC.
Previously, in Security Incident Update No. 3, Binance stated that it had earmarked over $6.34 billion in corporate funds to cover the stolen losses, and the coverage ratio for affected assets has been increased from 80% to 90%. Among them, 10 assets including BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC have achieved 100% reserve coverage.
Binance stated that the sources of funding for the replenishment include part of the SAFU fund, the Futures Insurance Fund, and company's own funds. The remaining assets awaiting replenishment are primarily low-liquidity tokens, which will continue to be purchased through public markets and OTC channels. Binance commits to bearing all financial losses resulting from this theft incident and will not pass them on to users.
.jpg)
