Binance co-CEO Teng says company in healthy state after $6.3 billion theft

Speaking in Hong Kong, Binance co-CEO Richard Teng said the exchange was in a strong financial position. He said it had replaced 95% of the roughly $6.3 billion stolen in last week’s hack, the largest on record. Teng also reassured users that their funds were safe. Teng at Hong Kong Fintech Week Teng made the comments on Tuesday at Hong Kong Fintech Week. He said deposits and withdrawals had mostly returned to normal, with a full review of the hack to be released later. Reuters quoted Teng as calling the hack a painful lesson and saying Binance took responsibility for it. He added that customer funds were safe and the company would come out of the incident stronger.

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