Binance CEO confirms withdrawals to resume within 42 hours after $6.3B hack; reserves $6.34B+ in company funds

Binance CEO Richard Teng confirmed all user losses will be 100% covered by SAFU and company funds, with withdrawals to resume within 42 hours after a security revamp. Binance reserved $6.34B+ in company funds, with the full $3.34B shortfall covered by its own funds; about $3B in affected assets were frozen on-chain. Teng said only Binance's own hot wallet was affected and that a full proof of reserves report will be shared by Monday.

Detected & updated continuously · Source: Nebula