Binance has begun recovering the assets of affected users and continues to work with law enforcement, token issuers, blockchain analytics firms, and industry partners to locate, freeze, and recover additional funds.

As previously announced, Binance has publicly committed to covering the losses with its own funds.

Binance has already set aside more than $6.34 billion in its own funds to cover this incident. Of this amount, $5 billion is already held in the affected tokens.

We are currently finalizing the acquisition of the remaining amount by purchasing the affected tokens on the markets and through over-the-counter (OTC) transactions.

This approach aims to replenish reserves in the same assets and cover any potential shortfall.

This step may take longer, as some tokens have low liquidity and settling OTC transactions also takes time.

We will share further updates on the progress of these operations as soon as possible.

These amounts do not include frozen or protected assets, which are still subject to recovery and verification procedures.

To date, $3 billion has been frozen thanks to the collaboration of our industry partners.

We are working with these partners and law enforcement to recover the frozen assets.

We will continue to mobilize company resources to cover any confirmed shortfall and publish further verified updates as recovery operations progress.

Ultimately, all user funds will be publicly verifiable through our Proof of Reserves system.

We will overcome this challenge.

Thank you for your support.