Cryptocurrency exchange Binance said on Saturday it has been able to cover 90 per cent of the amount stolen after a record US$6.3-billion hack of its platform.
The outstanding 10 per cent consists of tokens that are less liquid, which means they may take longer to source in the required amounts, it said in a statement.
Hackers steal $6.3-billion from Binance in record heist blamed on North Korea
The exchange said it has set aside around US$6.34-billion of company funds internally to cover the losses.
Binance said the replenishment involved a partial deployment of its US$1-billion Secure Asset Fund for Users (SAFU), a bitcoin reserve it holds to protect customers in the event of security breaches.
The company’s co-CEO, Richard Teng, said on Friday that the breach was a “complex attack” involving a compromised laptop and malicious software designed to delete evidence of its activity, making it harder to trace and investigate.
Binance also said it had taken a new snapshot of assets held on its platform as of midnight GMT on Saturday, as part of its proof-of-reserves process.
Hackers stole $6.3-billion from Binance, the world’s largest cryptocurrency exchange, in what analysts say is the biggest crypto hack ever, an attack that could prompt investors to rethink the …Full Caption
Users holding the 10 listed tokens – BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC – would be able to verify that their assets were backed at a minimum 1:1 ratio once the full proof was available, it said.
The exchange said it remained on track to resume withdrawal services on Sunday, within its previously stated timeframe.