UPDATE: Binance has set aside over $6.34 BILLION from company reserves to cover losses from the hack. $5 BILLION of that, roughly 80% of the TOTAL amount affected by the hack, is…
Original source excerpt
🚨UPDATE: Binance has set aside over $6.34 BILLION from company reserves to cover losses from the hack. $5 BILLION of that, roughly 80% of the TOTAL amount affected by the hack, is held in the same…
🚨UPDATE: Binance has set aside over $6.34 BILLION from company reserves to cover losses from the hack. $5 BILLION of that, roughly 80% of the TOTAL amount affected by the hack, is held in the same tokens involved, including USDC, USDT, BTC, ETH and BNB. Deposits and platform services are operating normally. Withdrawals remain paused for security review, with restoration expected in approximately 34 HOURS. Binance plans an initial Proof of Reserves snapshot in about 12 hours, with results expected by Monday, November 2.
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