Binance Says It Has Covered About 80% of Funds Stolen in Security Incident

Binance plans to restart withdrawals one token at a time within about 34 hours after securing assets worth more than $5 billion, which it says covers roughly 80% of funds stolen in a security incident. The exchange said it has prepared more than $6.34 billion in company funds for its response to the incident. More than $5 billion equivalent in USD Coin (USDC), Tether (USDT), Bitcoin (BTC), Ether (ETH) and BNB has been secured; Binance is still buying the remaining amount through market and over-the-counter channels.