Binance reserves $6.3B to cover losses from biggest-ever crypto hack

The exchange said $3 billion in assets has been frozen with assistance from industry partners. Binance has committed more than $6.3 billion in company funds to cover losses from the Thursday incident, with $5 billion already held in the affected tokens and the remaining amount being acquired through market and OTC channels. In a statement on X on Friday, the exchange said it is purchasing the outstanding assets to ensure compensation matches the specific token types affected and addresses any shortfalls. However, the process may take longer for tokens with low liquidity and because OTC transactions require additional settlement time.