Binance hack: What happened and where the $6.3 billion went

Binance has promised to cover every customer loss after a breach it estimates affected $6.3 billion. Its recovery effort now involves several different processes, from stablecoin freezes to tracing assets that no token issuer can block. Binance estimates that the October 29 breach affected approximately $6.3 billion. The exchange says partners have frozen roughly $3 billion in affected assets. TRM Labs traced transfers across 10 blockchains and values the original outflows at $6.36 billion. Blockaid identified 50 Ethereum authorizations in a transaction targeting Binance 14. Binance has pledged to cover losses through 2 sources, its SAFU fund and company funds.