Binance sets aside USD 6.34 billion to cover crypto hack losses, targets phased withdrawal resumption

T1Covered by 1 source · first reported by Economic Times — Tech / Technology / Startups / ETTelecom at 31 Oct, 11:08 UTC

In response to a significant security breach, cryptocurrency exchange Binance has earmarked USD 6.34 billion to cover losses incurred from unauthorised withdrawals amounting to about USD 6.3 billion. The company is committed to recovering these funds and restoring withdrawal services incrementally…

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Sources

• T1Binance sets aside USD 6.34 billion to cover crypto hack losses, targets phased withdrawal resumptionEconomic Times — Tech / Technology / Startups / ETTelecom31 Oct, 11:08