Changpeng Zhao announced on November 2 that Binance has set aside all funds necessary to cover the $6.3 billion taken in last week's security breach. The exchange replaced roughly 95 percent of stolen assets using its SAFU reserve, futures insurance fund and corporate treasury. The remaining 5 percent involves acquiring illiquid tokens through market purchases, which Zhao said takes additional time.
Binance reopened withdrawals in phases starting November 1, processing $4.65 billion in withdrawals against $1.01 billion in deposits during the first hours. A second expansion began November 3, adding assets across nine blockchain networks including BNB Smart Chain, Ethereum, Solana and others. The exchange plans a full incident report after completing its investigation.
Read the full story on BSC News: Binance Founder Changpeng Zhao Says $6.3 Billion Hack Recovery Funds Are Fully Allocated
Want the day's biggest crypto stories in one email each morning? Subscribe to The BSCN Debrief