Cryptocurrency exchange Binance said on Saturday it has covered 90% of the amount stolen after a record $6.3 billion hack of its platform.
The remaining 10% consists of less-liquid tokens, which may take longer to source in the required amounts, it said in a statement.
The exchange said it has set aside around $6.34 billion of company funds internally to cover the losses.
Replenishment involved partial SAFU deployment, Binance says
Binance said the replenishment involved a partial deployment of its $1 billion Secure Asset Fund for Users (SAFU), a bitcoin reserve it holds to protect customers in the event of security breaches.
The company’s co-CEO, Richard Teng, said on Friday that the breach was a “complex attack” involving a compromised laptop and malicious software designed to delete evidence of its activity, making it harder to trace and investigate.
Binance also said it had taken a new snapshot of assets held on its platform as of 2:00 a.m. Israel time on October 31, as part of its proof-of-reserves process.
Users holding the 10 listed tokens – BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC – would be able to verify that their assets were backed at a minimum 1:1 ratio once the full proof was available, it said.
The exchange said it remained on track to resume withdrawal services on Sunday, November 1, within its previously stated timeframe.
