Binance Says BTC, ETH, XRP and 7 Other Cryptos Fully Backed After Hack

Binance said 10 cryptocurrencies were fully backed after replenishing 90% of stolen assets. The exchange is sourcing less liquid tokens to close the remaining shortfall while targeting a Sunday withdrawal restart. Binance reported progress replacing stolen assets in its third security incident update on X on Oct. 31. After noting that approximately 80% of the hacked losses had been covered at the time of its preceding update, the exchange stated: Less liquid cryptocurrencies outside that group make up the remaining shortfall, and industry partners are helping source sufficient quantities. More than $6.34 billion in company funds had been set aside under the preceding recovery plan . “We will continue to buy the remaining relevant token assets through market and OTC channels until the covered amount reaches 100% for all tokens.

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