Fact check the following article and create supporting images for it as well:
Binance's Recovery Plan: $6.34B Reserved, $3B Frozen, and a Fight to Rebuild Trust š”ļø
š”ļø BINANCE'S RESPONSE TO THE HACK: LOSSES, TRUST, COMPENSATION
After a record hack estimated at $6.3 billion, Binance has moved quickly to reassure users. It has set aside more than $6.34 billion of its own funds to cover the losses, so users are not expected to bear them.
š° Compensation
About $5 billion is already held in the same tokens that were affected.
The remaining roughly $1.3 billion is being bought through market and OTC channels.
Co-founder Yi He said this year's revenue is enough to cover the losses.
The SAFU emergency fund remains a backstop.
š§ Recovery
About $3 billion has been frozen with help from partners, including Tether (over $1.57B USDT) and Circle (over $800M USDC). Binance is working with partners and law enforcement to recover it.
š Restoring confidence
Unauthorized outflows have stopped, and Binance is working to resume withdrawals.
Investigators found additional points of breach beyond the engineer's laptop that was first suspected.
Binance found no evidence of a wallet private key leak.
All user funds will be publicly verified through Proof of Reserves.
šÆ Takeaway: Actions like these matter more than statements. Watch for the Proof of Reserves update and the withdrawal restart.
Developing story. Not financial advice. DYOR.
#ļøā£ Hashtags:
#Binance ,#BinanceHack ,#ProofOfReserves ,#SAFU , #CryptoSecurity ,#UserProtection, #StaySafu
$BTC , $ETH
Binance's Recovery Plan: $6.34B Reserved, $3B Frozen, and a Fight to Rebuild Trust š”ļø
š”ļø BINANCE'S RESPONSE TO THE HACK: LOSSES, TRUST, COMPENSATION
After a record hack estimated at $6.3 billion, Binance has moved quickly to reassure users. It has set aside more than $6.34 billion of its own funds to cover the losses, so users are not expected to bear them.
š° Compensation
About $5 billion is already held in the same tokens that were affected.
The remaining roughly $1.3 billion is being bought through market and OTC channels.
Co-founder Yi He said this year's revenue is enough to cover the losses.
The SAFU emergency fund remains a backstop.
š§ Recovery
About $3 billion has been frozen with help from partners, including Tether (over $1.57B USDT) and Circle (over $800M USDC). Binance is working with partners and law enforcement to recover it.
š Restoring confidence
Unauthorized outflows have stopped, and Binance is working to resume withdrawals.
Investigators found additional points of breach beyond the engineer's laptop that was first suspected.
Binance found no evidence of a wallet private key leak.
All user funds will be publicly verified through Proof of Reserves.
šÆ Takeaway: Actions like these matter more than statements. Watch for the Proof of Reserves update and the withdrawal restart.
Developing story. Not financial advice. DYOR.
#ļøā£ Hashtags:
#Binance ,#BinanceHack ,#ProofOfReserves ,#SAFU , #CryptoSecurity ,#UserProtection, #StaySafu
$BTC , $ETH
