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Binance to Cover $6.3 Billion Total Loss from Cyberattack Using Its Own Funds

The cryptocurrency exchange Binance, which was targeted by a cyberattack, has reaffirmed its commitment to covering the total loss resulting from the incident using its own corporate funds.

According to foreign media reports, a recent statement issued by the company indicates that it has already set aside over $6.3 billion—an amount equivalent to the losses incurred—to address the situation.

The statement from Binance notes that, of the $6.3 billion allocated, $5 billion is already held in the form of the specific crypto tokens (exact token assets) that were affected by the attack.

The company further stated that it is in the process of acquiring the remaining funds required to cover the losses through various channels. It acknowledged that this process may take some time and promised to provide updates on its progress as soon as possible. Binance has stated that the aforementioned $6.3 billion does not include assets that have been frozen as part of investigations, and that the process of recovering and verifying these funds is still ongoing.
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