Market Flux Event
Binance Replenishes 90% of $6.3 Billion in Stolen Assets, Targets November 1 Withdrawal Restart
Read this in the Market Flux appBinance has replenished 90% of the roughly $6.3 billion in cryptocurrency assets stolen in a major hack, the exchange announced on October 31, pledging to absorb the financial impact entirely rather than passing losses to users. The exchange is targeting November 1 to resume withdrawals, with the remaining 10% of stolen assets to be restored through over-the-counter purchasing channels.
Binance has published a new reserves page showing full backing for major tokens, and a complete cryptographic proof of reserves is expected by November 3. Analysts say the swift recovery effort could boost market confidence and help stabilize liquidity, with potential positive influence on Bitcoin prices amid broader market volatility.
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Sources
- Ny TimesHow Binance’s $6.3 Billion Hack Went Down
- DeItaoneBINANCE ON HACK - 90% OF STOLEN ASSETS REPLENISHED
- The DefiantBinance Says 90% of Stolen Assets Replenished, Targets Nov. 1 Restart
- Crypto BriefingBinance says its top 10 user assets are fully backed after security incident
- BullTheoryioBREAKING: Binance says it has restored 90% of the assets stolen in its $6.3 billion hack. It used part of its SAFU emergency fund, part of its futures insurance fund, and its own treasury. The remaining 10% hasn't been replenished yet. Those are smaller tokens that Binance says are harder to buy back. Binance says withdrawals will reopen tomorrow, but the full proof of reserves won't be ready until Tuesday.
- SkynewsMajority of funds stolen in cryptocurrency hack replenished, Binance says
- AshCryptoBREAKING: Binance says it has now refilled 90% of the $6.3 Billion stolen assets. The remaining 10% of the assets will soon be restored, as Binance will buy them through OTC channels. Good for the markets and users.
- NewsbtcBinance Details $6.3B Hot-Wallet Breach as Exchange Pledges to Cover Losses
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- WatcherGuruJUST IN: Binance says it has now covered 90% of losses from the $6.3 billion crypto hack by North Korea.
- KalshiJUST IN: Binance has covered 90% of losses from the $6.3 billion exploit
- FirstSquawkBinance’s $6.3 billion hack raises questions about crypto wallet safety - CNBC
- StaunovoThe record-setting $6.3 billion hack of Binance, the world’s biggest cryptocurrency exchange, has been blamed on alleged North Korean hackers, who have become infamous for preying on the digital-asset industry
- BusinessBinance said it has covered about 90% of the $6.3 billion worth of cryptocurrency that hackers stole earlier this week and plans to restore withdrawals by Sunday, making progress on a pledge to fully reimburse customers.
- Coin DeskBinance says it has replaced 90% of stolen crypto after massive $6.3 billion breach
- CoindeskBinance says it has replaced 90% of stolen crypto after massive $6.3 billion breach
- Cointelegraph🚨 HUGE: Binance has announced that 90% of the stolen assets have been replenished.
- Coin TelegraphBinance says 90% of stolen assets replenished, targets Sunday withdrawals
- ReutersBinance replenishes 90% of assets stolen in security incident
- Investingcom*BINANCE ON HACK: 90% OF STOLEN ASSETS REPLENISHED
- CnbcBinance says 90% of $6.3 billion hack losses are now covered, plans to resume withdrawals Sunday
- Seeking AlphaBinance restores 90% of stolen crypto assets
- Marketsday*BINANCE ON HACK: WILL ABSORB THE FINANCIAL IMPACT OF THESE STOLEN FUNDS, NOT OUR USERS