Binance Says 80% of Hack Losses Are Already Covered: What It Means for Users 💪
💪 BINANCE REPORTS 80% RECOVERY OF $6.3 BILLION IN HACK LOSSES
Binance says it has already covered about 80% of the roughly $6.3 billion lost in the hack. It has reserved more than $6.34 billion of company funds, and its message to users is that Binance will absorb the loss, not them.
📊 The recovery numbers
💰 $5 billion is already held in the same assets that were stolen, including USDT, USDC, $BTC , $ETH , and BNB.
🛒 The remaining ~$1.3 billion is being bought through market and OTC trades.
🧊 About $3 billion has been frozen on-chain with help from law enforcement, analytics firms, and token issuers.
⏱️ What's next
🔓 Binance is targeting a phased restart of withdrawals, subject to security checks, while deposits and unaffected services stay live.
🔍 The investigation is ongoing, and Binance found more points of breach than the engineer's laptop it first suspected.
📑 A Proof of Reserves update is promised to verify user funds publicly.
🎯 Takeaway: Funding the losses is a strong first step. The real test is a safe withdrawal restart and a transparent Proof of Reserves.
#️⃣ Hashtags:
#BinanceReports80%Recoveryof$6.3BillioninLossesfromHackIncident ,#BinanceHack ,#ProofOfReserves #CryptoSecurity ,#UserFunds , #StaySafu
💪 BINANCE REPORTS 80% RECOVERY OF $6.3 BILLION IN HACK LOSSES
Binance says it has already covered about 80% of the roughly $6.3 billion lost in the hack. It has reserved more than $6.34 billion of company funds, and its message to users is that Binance will absorb the loss, not them.
📊 The recovery numbers
💰 $5 billion is already held in the same assets that were stolen, including USDT, USDC, $BTC , $ETH , and BNB.
🛒 The remaining ~$1.3 billion is being bought through market and OTC trades.
🧊 About $3 billion has been frozen on-chain with help from law enforcement, analytics firms, and token issuers.
⏱️ What's next
🔓 Binance is targeting a phased restart of withdrawals, subject to security checks, while deposits and unaffected services stay live.
🔍 The investigation is ongoing, and Binance found more points of breach than the engineer's laptop it first suspected.
📑 A Proof of Reserves update is promised to verify user funds publicly.
🎯 Takeaway: Funding the losses is a strong first step. The real test is a safe withdrawal restart and a transparent Proof of Reserves.
#️⃣ Hashtags:
#BinanceReports80%Recoveryof$6.3BillioninLossesfromHackIncident ,#BinanceHack ,#ProofOfReserves #CryptoSecurity ,#UserFunds , #StaySafu
