Binance Says It Has Fully Covered the $6.34 Billion Hack With Company Funds

Bitcoin Magazine Binance Says It Has Fully Covered the $6.34 Billion Hack With Company Funds Binance said Thursday it has completed coverage of the $6.34 billion Oct. 29 hack from company funds, two weeks after the largest crypto theft on record, even as withdrawals continue to reopen in phases. In a Thursday announcement, the exchange wrote that it “has completed coverage of assets impacted in the security incident” and published a new proof-of-reserves snapshot. It repeated the same message on X. That wording matters. Coverage means Binance has replaced the affected tokens from its own books, not that it has recovered the stolen coins from the attackers.

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