Binance replenishes 90% of stolen crypto, says it will absorb financial losses
In a commendable move, Binance has restored 90 percent of the cryptocurrency assets lost due to a recent security breach. The exchange has pledged to handle the financial repercussions internally, ensuring customers are unaffected. Withdrawals are set to resume on Sunday, November 1, as Binance reinforces its commitment to transparency regarding its reserves.
Binance has replenished 90% of the cryptocurrency assets stolen in a major security breach, with the world's largest cryptocurrency exchange stating it will absorb the financial impact of the theft. The exchange confirms that 10 major cryptocurrencies are now fully backed and remains on track to resume withdrawals on November 1. Binance has purchased the stolen assets through cryptocurrency market transactions and over-the-counter channels, and says customers will not bear the financial consequences of the security breach.
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