๐จ BINANCE HACK UPDATE: $3 BILLION IN ASSETS FROZEN
Binance has confirmed that approximately $3 billion in crypto assets have been frozen on-chain following the security breach involving unauthorized withdrawals, with the total estimated impact reaching $6.3 billion. ๐
๐ฐ Key Developments:
โข Binance says it will cover the losses through its SAFU fund and corporate treasury.
โข More than $6.34 billion in company funds has been set aside, with approximately 80% of the impacted amount already covered by corresponding assets.
โข Withdrawals were temporarily suspended while security checks continued, while deposits and unaffected services remained operational.
โข Binance is working with law enforcement, blockchain intelligence firms and token issuers to trace and recover the frozen funds.
โณ What Happens Next?
Binance aims to resume withdrawals in phases, subject to security checks. The exchange also plans to publish updated Proof of Reserves results by November 2, 2026.
The investigation is ongoing, and further verified updates are expected. The key question now is how much of the remaining affected assets can be recovered.
#CZSaysCompensationIsinPlaceUsersAreProtected #ASICHasReceivedNoPredictionMarketApplications $BTC
$BNB
Binance has confirmed that approximately $3 billion in crypto assets have been frozen on-chain following the security breach involving unauthorized withdrawals, with the total estimated impact reaching $6.3 billion. ๐
๐ฐ Key Developments:
โข Binance says it will cover the losses through its SAFU fund and corporate treasury.
โข More than $6.34 billion in company funds has been set aside, with approximately 80% of the impacted amount already covered by corresponding assets.
โข Withdrawals were temporarily suspended while security checks continued, while deposits and unaffected services remained operational.
โข Binance is working with law enforcement, blockchain intelligence firms and token issuers to trace and recover the frozen funds.
โณ What Happens Next?
Binance aims to resume withdrawals in phases, subject to security checks. The exchange also plans to publish updated Proof of Reserves results by November 2, 2026.
The investigation is ongoing, and further verified updates are expected. The key question now is how much of the remaining affected assets can be recovered.
#CZSaysCompensationIsinPlaceUsersAreProtected #ASICHasReceivedNoPredictionMarketApplications $BTC
$BNB
