THE STREET · 2026-10-31 16:15 UTC

Binance says 90% of hack impact now covered

Binance has covered 90% of the $6.3 billion security breach impact, up from 80% previously, with the exchange absorbing all losses rather than users. The company allocated $6.34 billion in corporate funds, using treasury money, its SAFU insurance fund, and futures insurance to back user balances. Major cryptocurrencies including BTC, ETH, USDT, BNB, and SOL are now fully backed at 100%; withdrawals remain paused but are expected to resume within the previously stated timeframe.

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