🚨 $6.34 billion… Can Binance regain users’ trust after the hack?
Binance announced that it had completed compensating users for assets affected by the security incident it experienced on October 29, 2026, which was valued at approximately $6.34 billion.
📊 Key developments:
🔹 Coverage of all affected assets was completed using company resources and protection and insurance funds.
🔹 A new proof-of-reserves snapshot covering 198 cryptocurrencies was published.
🔹 Withdrawal services are continuing to reopen gradually.
🔹 Binance is committed to replenishing its user protection fund, SAFU, to approximately $1 billion.
⚠️ But the most important question is:
Is compensation for losses enough to restore trust?
Proof of reserves is an important step toward transparency, but it is no substitute for independent security audits and oversight of asset protection systems.
💬 Will Binance regain investors’ trust, or will the effects of the hack persist?
#Binance #Bitcoin #Crypto #SAFU #ProofOfReserves #CryptoSecurity
Binance announced that it had completed compensating users for assets affected by the security incident it experienced on October 29, 2026, which was valued at approximately $6.34 billion.
📊 Key developments:
🔹 Coverage of all affected assets was completed using company resources and protection and insurance funds.
🔹 A new proof-of-reserves snapshot covering 198 cryptocurrencies was published.
🔹 Withdrawal services are continuing to reopen gradually.
🔹 Binance is committed to replenishing its user protection fund, SAFU, to approximately $1 billion.
⚠️ But the most important question is:
Is compensation for losses enough to restore trust?
Proof of reserves is an important step toward transparency, but it is no substitute for independent security audits and oversight of asset protection systems.
💬 Will Binance regain investors’ trust, or will the effects of the hack persist?
#Binance #Bitcoin #Crypto #SAFU #ProofOfReserves #CryptoSecurity