Binance is already recovering affected user assets and working with authorities + blockchain intel firms to track and freeze more funds.
They publicly committed to cover all losses with corporate funds.
$6.34B reserved so far:
• $5B already held in the same tokenized assets that were hit
• Rest being bought via market + OTC (taking time due to low liquidity on some tokens)
$3B frozen with industry partners. Recovery ongoing.
All user funds will be publicly verified through Proof of Reserves.
Binance eating the loss. No user funds at risk. Moving on.
They publicly committed to cover all losses with corporate funds.
$6.34B reserved so far:
• $5B already held in the same tokenized assets that were hit
• Rest being bought via market + OTC (taking time due to low liquidity on some tokens)
$3B frozen with industry partners. Recovery ongoing.
All user funds will be publicly verified through Proof of Reserves.
Binance eating the loss. No user funds at risk. Moving on.