$LINK $ETH $POL Binance will cover all stolen funds through its Secure Asset Fund for Users (SAFU) and its corporate treasury, the co-CEOs said. The exchange has set aside more than $6.34 billion, $5 billion of which is held in the exact tokens that were stolen, including USDC, USDT, BTC, ETH and BNB. That covers about 80% of the loss, and Binance is buying the remaining tokens through market and over-the-counter channels.Binance co-CEOs Yi He and Richard Teng said the exchange has already covered about 80% of the roughly $6.3 billion lost in its security incident and will absorb the full cost itself. In a letter to users dated Friday, October 30, they said Binance’s hot wallets were compromised at about 20:05 UTC on October 29.
“Binance will absorb the financial impact of these stolen funds, not our users,” they wrote.#newscrypto #news_update #NewEraofHOOKED