Binance Says It Has Replaced 90% of $6,300,000,000 Stolen in Record Crypto Hack

Crypto exchange Binance says it has now covered 90% of the roughly $6.3 billion stolen from its hot wallets in what is believed to be the largest cryptocurrency hack ever. In its latest recovery update, Binance says it set aside more than $6.34 billion in company funds to cover the loss and that all user holdings of Bitcoin (BTC), Ethereum (ETH), Tether (USDT), BNB (BNB), Solana (SOL), USD Coin (USDC), XRP (XRP), USD1 (USD1), Ripple USD (RLUSD) and Zcash (ZEC) are now fully backed. The exchange used part of its Secure Asset Fund for Users (SAFU), a portion of its futures insurance fund and its own corporate treasury to buy back the stolen assets.

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