Binance stated that it has compensated clients for all $6.3 billion stolen by hackers
Crypto exchange Binance has compensated clients for all assets worth $6.3 billion stolen during the hack. Platform representatives announced this on the social network X
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The crypto exchange thanked users and the community for their “patience and understanding”.
The largest hack in the history of crypto exchanges occurred on the night of October 30. Hackers managed to steal $6.3 billion in assets.
It is worth noting that the company compensated for the majority of the assets (90%) back on October 31 using its own funds—just one day after the hack. These included assets in Bitcoin, Ether, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC. The remainder consisted of less liquid tokens.
According to Bloomberg, the compensations were funded from three sources: Binance corporate funds, the futures division insurance fund, and part of the Secure Asset Fund for Users (SAFU)
In addition, the crypto exchange promised to replenish SAFU to approximately $1 billion to maintain it as a separate reserve for user protection.