Binance has already used its own funds to cover a shortfall of over $5 billion. All I can say is, impressive. Withdrawals are expected to reopen within 40 hours, and its reserve details will be announced on Monday.
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币安Binance华语
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Binance has begun replenishing the assets stolen in this incident and will continue working closely with law enforcement, asset issuers, blockchain intelligence firms, and industry partners to track, freeze, and recover more of the funds involved.
As stated in Binance’s previous announcement, the company will cover all losses related to the stolen assets using its own funds.
Binance has set aside more than $6.34 billion in company funds to cover the losses caused by this security incident. Of this amount, corresponding token assets worth more than $5 billion are already in place. For the remainder, we are purchasing the relevant token assets through market and over-the-counter channels to ensure the asset types match the affected tokens and to cover any shortfalls.
Because some tokens have limited liquidity and over-the-counter settlements take time, this process may take longer. We will share further updates as soon as possible.
The amounts above do not include assets that have been frozen or secured, which are still being recovered and verified. To date, approximately $3 billion in assets have been frozen with the support of industry partners. We will continue working with our partners and law enforcement to recover these frozen assets.
We will continue to use company resources to cover any verified shortfalls and, as recovery efforts progress, promptly share further verified updates. Ultimately, the status of all user funds can be independently verified by the public through Binance’s Proof of Reserves.
We are confident that we will get through this difficult time together. Thank you for your support.
As stated in Binance’s previous announcement, the company will cover all losses related to the stolen assets using its own funds.
Binance has set aside more than $6.34 billion in company funds to cover the losses caused by this security incident. Of this amount, corresponding token assets worth more than $5 billion are already in place. For the remainder, we are purchasing the relevant token assets through market and over-the-counter channels to ensure the asset types match the affected tokens and to cover any shortfalls.
Because some tokens have limited liquidity and over-the-counter settlements take time, this process may take longer. We will share further updates as soon as possible.
The amounts above do not include assets that have been frozen or secured, which are still being recovered and verified. To date, approximately $3 billion in assets have been frozen with the support of industry partners. We will continue working with our partners and law enforcement to recover these frozen assets.
We will continue to use company resources to cover any verified shortfalls and, as recovery efforts progress, promptly share further verified updates. Ultimately, the status of all user funds can be independently verified by the public through Binance’s Proof of Reserves.
We are confident that we will get through this difficult time together. Thank you for your support.
