Binance: Approximately 95% of the losses from this theft incident have been covered, while the remaining 5% is still being procured.
45 minutes ago
Binance has released an update on the security incident, stating that it has covered approximately 95% of the affected funds from the theft, an increase from the previously announced 90%. The remaining ~5% consists of tokens outside the top ten assets. Due to low market liquidity, Binance is still procuring these tokens via the open market and over-the-counter (OTC) channels, and more time is needed to reach the required scale. Binance also noted that user balances of BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC have achieved 100% reserve coverage, and users can verify this via the Proof of Reserves (PoR) page. Binance reiterated that it will bear all financial losses resulting from the stolen funds and will not pass the losses on to users. Once the investigation is completed, the platform will also release a post-incident review report to disclose more details.
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