We are working closely with law enforcement agencies, token issuers, blockchain intelligence firms, and industry partners to trace, freeze, and recover additional funds.
Binance has already made it clear in its previous announcement that usersโ losses will be covered using the companyโs own funds.
Binance has reserved more than $6.34 billion of company funds to cover losses related to this incident. Of this amount, $5 billion is held in the same tokens that were affected by the incident.
For the remaining amount, we are completing the process of purchasing the relevant tokens through market and OTC channels. The goal is to meet the remaining token requirements and address any asset shortfalls. This process may take additional time because some tokens have limited liquidity, and OTC transactions also require time to settle. We will share further updates as progress is made.
These figures do not include assets that have already been frozen or protected. The recovery and verification process for those assets is still ongoing.
With the support of our industry partners, $3 billion in assets have been frozen so far. We are continuing to work with our partners and law enforcement agencies to recover these assets.
We will continue using company resources to cover any confirmed shortfall and will share verified updates as further progress is made in the recovery process.
Finally, all user funds will be publicly verified through our Proof of Reserves (PoR).
#Binancehacked #CryptoNewss $BNB
