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Binance said it has recovered 90% of the stolen assets in a recent security incident, up from 80% previously. The company has set aside more than $6.34 billion in corporate capital to cover losses caused by the hacker attack. The remaining 10% are less liquid tokens that are outside of the top ten affected assets. Binance plans to reopen user withdrawals on Sunday. Binance has promised to replenish the SAFU emergency reserve to around $1 billion. Futures insurance funds have been rebalanced to help cover affected assets; the size of the fund is still above specified levels.
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Binance said it has recovered 90% of the stolen assets in a recent security incident, up from 80% previously. The company has set aside more than $6.34 billion in corporate capital to cover losses caused by the hacker attack. The remaining 10% are less liquid tokens that are outside of the top ten affected assets. Binance plans to reopen user withdrawals on Sunday. Binance has promised to replenish the SAFU emergency reserve to around $1 billion. Futures insurance funds have been rebalanced to help cover affected assets; the size of the fund is still above specified levels.
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