Binance has begun recovering the affected assets for users and continues to work with authorities, issuers, blockchain intelligence firms, and industry partners to trace, freeze, and recover additional funds.
The company already publicly committed in its previous announcement to cover the losses with corporate funds.
Binance has already allocated more than USD 6.34 billion in company funds to cover this incident. Of that total, USD 5 billion is already held in the same tokenized assets that were affected. We are completing the purchase of the remaining amount by acquiring tokenized assets through market channels and OTC transactions. We are doing this to match the composition of the remaining assets and cover any shortfall. This process may take longer, as some tokens may have low liquidity, and OTC settlement also takes time. We will share further updates as soon as we can.
These figures do not include frozen or protected assets, which remain subject to ongoing recovery and verification processes. To date, USD 3 billion has been frozen, thanks to the support of our industry partners. We continue to work with our partners and authorities to recover those frozen assets. We will continue to use company resources to cover any confirmed shortfall and provide further verified updates as recovery efforts progress. Ultimately, all user funds will be publicly verified through our Proof of Reserves.
We will get through this. Thank you for your support.
The company already publicly committed in its previous announcement to cover the losses with corporate funds.
Binance has already allocated more than USD 6.34 billion in company funds to cover this incident. Of that total, USD 5 billion is already held in the same tokenized assets that were affected. We are completing the purchase of the remaining amount by acquiring tokenized assets through market channels and OTC transactions. We are doing this to match the composition of the remaining assets and cover any shortfall. This process may take longer, as some tokens may have low liquidity, and OTC settlement also takes time. We will share further updates as soon as we can.
These figures do not include frozen or protected assets, which remain subject to ongoing recovery and verification processes. To date, USD 3 billion has been frozen, thanks to the support of our industry partners. We continue to work with our partners and authorities to recover those frozen assets. We will continue to use company resources to cover any confirmed shortfall and provide further verified updates as recovery efforts progress. Ultimately, all user funds will be publicly verified through our Proof of Reserves.
We will get through this. Thank you for your support.
