Binance says it has reserved $6.34B+ in company funds, including $5B already held in impacted token assets, to deal with the fallout from the $6.3B hack (Rajveer Singh Pardesi/Reuters)

Binance reported that approximately $6.3 billion was impacted in an apparent hack, which is believed to be the largest crypto hack ever. The incident occurred on the company's global centralized exchange, Binance.com, while Binance.us stated it was not affected. Richard Teng, Binance’s co-chief executive officer, said the company is working with authorities to determine what happened and confirmed it will cover all losses.

To address the shortfall, Binance has reserved more than $6.34 billion in company funds, including $5 billion already held in the specific tokens that were stolen. According to Cointelegraph, $3 billion of the stolen funds have already been frozen by industry partners. The exchange disclosed via an X post that it is cooperating with law enforcement, and a source familiar with the matter told Cointelegraph that Binance is working with the FBI to help recover some of the stolen assets.

Brief written by urgent.news from Techmeme, Cointelegraph, NPR, KahawaTungu, BBC News — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.