Binance Says $3 Billion Is Frozen as It Rebuilds User Balances

Binance says about $3 billion in assets has been frozen as it begins restoring affected users with a company-funded pool of more than $6.34 billion to cover incident losses. The exchange said $5 billion is already held in tokens matching those lost by users. It is buying the remainder through market and over-the-counter channels. Low liquidity for some tokens and OTC settlement times may slow those purchases. The exchange is using the same types of tokens to refill affected balances. Binance said the $6.34 billion allocation does not count assets that have already been frozen or otherwise protected.