Binance Replenishes 90% Of $6.3 Billion Hack Losses As Recovery Continues

Bitcoin traded near $78,000 on November 1 as Binance reported replenishing 90% of the cryptocurrency assets stolen in a $6.3 billion security breach. The exchange has allocated more than $6.34 billion to cover the losses and fully backed ten major tokens. Meanwhile, Binance continues purchasing the remaining assets and expects to restore withdrawals within its previously announced timeframe. Binance increased its recovery rate from approximately 80% to 90% after purchasing replacement tokens through market and over-the-counter channels. The exchange announced the progress on October 31, following unauthorized withdrawals from its hot wallets.