Binance Says It Has Covered $6.3B in Hack Losses as New Proof of Reserves Awaits

TL;DR: Binance has announced the full coverage of the assets affected by the security incident recorded on October 29, which amounted to $6.3 billion . The replenishment of funds was executed using corporate resources, futures insurance funds, and the Secure Asset Fund for Users (SAFU) . The platform has published a proof of reserves snapshot expanded to 198 digital assets , pending the completion of the zero-knowledge proof calculation. The crypto ecosystem witnessed a new milestone in transparency and institutional response following the hack on the exchange. Binance reported this Thursday that it completed the coverage of all user assets impacted by the October 29 security breach , an event that amounted to approximately $6.3 billion .

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