BINANCE SETS ASIDE $6.34 BILLION TO COVER INCIDENT Binance says it has reserved more than $6.34 billion in company funds to cover an incide…
BINANCE SETS ASIDE $6.34 BILLION TO COVER INCIDENT
Binance says it has reserved more than $6.34 billion in company funds to cover an incident affecting user assets.
The exchange also reported $5 billion already held in impacted token assets and $3 billion frozen with assistance from industry partners.
Binance is working with law enforcement to recover affected assets and says all user funds will be publicly verified through its Proof of Reserves.
The figures exclude additional frozen or protected assets undergoing verification.