Binance says has covered 90% of $6.3 billion hack losses
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Verified Synthesis~25s readCryptocurrency platform Binance said Saturday it has used company money to buy tokens to replenish 90 percent of $6.3 billion stolen in a huge hacking attack. “Our commitment remains the same: Binance will fully cover the financial impact of the funds stolen in this incident,” the company said on X.
Context & Background
- ✦Binance said Friday it was working to resolve what it called a “complex attack” with several “points of breach.” Investigators pointed to hackers linked to North Korea as being responsible.
Key Figures & Named Entities
Saturday:Cryptocurrency platform Binance said Saturday it has used company money to buy tokens to replenish 90 percent of $6.3 billion stolen in a huge hacking attack.$6.34 billion:Binance, the world’s largest crypto exchange by daily trading volumes, said the remaining 10 percent of tokens are “less liquid, which means they may take longer to source in the required amounts.” The company said it has set aside more than $6.34 billion in company funds to cover losses in the hack.Friday:Binance said Friday it was working to resolve what it called a “complex attack” with several “points of breach.” Investigators pointed to hackers linked to North Korea as being responsible.
Outlook & Next Steps
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Key Takeaways
Verified Extract- Cryptocurrency platform Binance said Saturday it has used company money to buy tokens to replenish 90 percent of $6.3 billion stolen in a huge hacking attack.
- “Our commitment remains the same: Binance will fully cover the financial impact of the funds stolen in this incident,” the company said on X.
- Binance said Friday it was working to resolve what it called a “complex attack” with several “points of breach.” Investigators pointed to hackers linked to North Korea as being responsible.
Key Facts:Saturday: Cryptocurrency platform Binance said Saturday it has used company money to buy tokens to replenish 90 percent of $6.3 billion stolen in a huge hacking attack.$6.34 billion: Binance, the world’s largest crypto exchange by daily trading volumes, said the remaining 10 percent of tokens are “less liquid, which means they may take longer to source in the required amounts.” The company said it has set aside more than $6.34 billion in company funds to cover losses in the hack.Friday: Binance said Friday it was working to resolve what it called a “complex attack” with several “points of breach.” Investigators pointed to hackers linked to North Korea as being responsible.Sunday: Binance suspended user withdrawals after the incident, but said in its latest update they were on track to resume Sunday.
Editorial Excerpt
Cryptocurrency platform Binance said Saturday it has used company money to buy tokens to replenish 90 percent of $6.3 billion stolen in a huge hacking attack.
Frequently Asked Questions About This Story
What is the key takeaway from this report?
Cryptocurrency platform Binance said Saturday it has used company money to buy tokens to replenish 90 percent of $6.3 billion stolen in a huge hacking attack.
What additional context is highlighted in this report?
“Our commitment remains the same: Binance will fully cover the financial impact of the funds stolen in this incident,” the company said on X.
What timeline or key figures were confirmed?
Cryptocurrency platform Binance said Saturday it has used company money to buy tokens to replenish 90 percent of $6.3 billion stolen in a huge hacking attack.
