Binance Uses Own Funds to Replenish 90% of Stolen Crypto

After a cyberattack that drained roughly 6.3 billion dollars, Binance has already restored 90 percent of the missing holdings with its own money. Reserves in Bitcoin, Ethereum, BNB and seven other major tokens are now back to full strength.

The remaining gap consists of thinly traded altcoins that the exchange will buy gradually on the open market and through private deals. To speed up the process it tapped its SAFU emergency fund and surplus capital from the futures insurance pool, with the bulk of the work expected to finish within 24 hours.

Binance stressed that no customer will bear any loss. It also plans to enlarge the SAFU reserve to about one billion dollars and roll out a new Proof of Reserves framework to show users exactly where their assets stand.

Based on information from cryptonews.net