Binance covered the theft of approximately $6.3 billion from its hot wallets on October 29 using its own corporate funds, former CEO Changpeng Zhao stated. The exchange drew from its treasury and futures insurance fund without external borrowing or asset sales, and has replaced around 95% of stolen holdings. About $3 billion remains frozen on blockchain networks, while the final 5% involves less liquid tokens requiring more time to acquire.
The exchange released zero-knowledge proof of reserves for ten cryptocurrencies including BTC, ETH, and BNB, demonstrating 1:1 backing as of October 31. A broader verification covering additional tokens is scheduled for November 4. The FBI attributed the attack to North Korea.
Read the full story on BSC News: Binance Covers $6.3 Billion Hack From Balance Sheet, Says Changpeng Zhao, Publishes Proof of Reserves
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