Binance Puts New Reserve Snapshot Under Scrutiny After $6.3B Crypto Hack

Weeks after one of the biggest crypto exchange security incidents in history, Binance has just hit a significant recovery landmark. The exchange says affected assets are now fully covered and has released a fresh reserve snapshot to support its backing claims. Binance stated it has finished covering assets impacted by the security incident on October 29, leading to stolen funds of about $6.3 billion. The exchange had invested over $6.34 billion of its own money to offset losses as opposed to passing them along to customers.