Binance says 90% of stolen assets have been replaced after $6.3bn heist
The cryptocurrency exchange's CEO says the company is covering losses from a record theft affecting customers.
At a glance
- Hackers stole $6.3 billion from Binance customers in what is described as a record-breaking cryptocurrency heist
- Binance has replaced 90 percent of the stolen funds, with the company covering losses directly
- The exchange plans to cover the remaining 10 percent of stolen assets
Binance has replaced 90 percent of funds stolen in a cryptocurrency heist that resulted in losses of $6.3 billion, according to the exchange's CEO. The company is covering the stolen assets directly and plans to replace the remaining 10 percent as well.
The theft is described as a record-breaking incident in the cryptocurrency sector. The CEO did not specify a timeline for covering the final portion of lost funds.
Why it matters
The theft represents a significant security incident in the cryptocurrency sector and raises questions about asset protection at major exchanges.
Original reporting
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