Binance Says $6.3B Hack Assets Covered, Reserve Proof Pending
9 Articles
9 Articles
Binance says $6.3B hack assets covered, reserve proof pending
Binance has announced that it has fully covered user assets affected by its $6.3 billion October hack and published a new Proof of Reserves snapshot, with the accompanying zero-knowledge proof still to come. Binance said in its Nov. 12 announcement…
The Binance Crime Exchange fully covered the assets of users affected by the large-scale hacker attack at the end of October. "We fully covered the assets affected by the security incident," says the site's message to TASS. Over $6.34 billion of its own funds was used to recover the damage. The company also purchased the affected open-market currents and out-of-court sites, using a portion of the user asset protection fund (SAFU), a part of the …
Binance announced that it has fully compensated its customers after the largest cyberattack in history, during which $6.3 billion worth of crypto assets were stolen from the platform. The world's largest crypto exchange used its own profits and security funds to replace the stolen assets in late October, Bloomberg reported.
Binance Says It Has Fully Covered The $6.34 Billion Hack With Company Funds
Binance said Thursday it has completed coverage of the $6.34 billion Oct. 29 hack from company funds, two weeks after the largest crypto theft on record, even as withdrawals continue to reopen in phases. In a Thursday announcement, the exchange wrote that it “has completed coverage of assets impacted in the security incident” and published a new proof-of-reserves snapshot. It repeated the same message on X. That wording matters. Coverage means B…
Binance says $6.3B hack losses covered, new reserve proof pending
Binance has announced that it has fully covered user assets affected by its $6.3 billion October hack and published a new Proof of Reserves snapshot, with the accompanying zero-knowledge proof still to come. Binance said in its Nov. 12 announcement…
Binance announced that it had completed covering the assets affected by the October security incident and published a new reserve snapshot for 198 tokens. However, the complete cryptographic test was still in preparation and withdrawals continued to be reopened in phases.
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