Binance Compensates 90% of Hack Losses
Binance stated that it has fully compensated losses for holders of major tokens. According to the cryptocurrency exchange itself, following a recent cyberattack, it was able to fully compensate clients for losses in assets in BTC, ETH, USDT, BNB (Binance Coin), SOL (Solana), USDC, XRP (Ripple), USD1, RLUSD and ZEC.
Consensus
- Binance announced it has compensated 90% for losses caused by a cyberattack.
- The compensation covers BTC, ETH, USDT, BNB, Solana (SOL), USDC, XRP, USD1, RLDUSD, and ZEC in full.
- Binance stated it will continue purchasing remaining tokens through market and OTC channels until 100% coverage is achieved.
- The remaining 10% of losses involve less liquid tokens, which will take more time to cover.
- Binance has reserved over $6.3 billion in its own funds to cover all losses.
- The cyberattack occurred on October 29.
- Binance confirmed it is aware of the incident and is conducting an investigation.
- The attack involved a mechanism that erased tools and traces during the breach.
- Binance stated that the stolen funds came from the exchange's own wallets, not individual user accounts.
- Users experienced temporary freezing of withdrawals and waiting periods after operations resumed.
Points of divergence
- Binance stated that the remaining 10% of losses are due to tokens not in the top ten by size, and that their lower liquidity requires more time to purchase. — tg_dwglavnoe
- Binance's CEO Richard Teng stated that multiple individuals were involved in the attack. — vedomosti
- Binance's CEO Richard Teng mentioned that hackers used a self-destruct mechanism to erase tools and traces. — vedomosti
- Binance reserved over $6.34 billion for compensation, with $5 billion already deployed in affected cryptocurrencies. — vedomosti
- Binance stated that the attack was likely carried out by hackers from North Korea. — tg_dwglavnoe
Coverage (7 sources)
- Cryptocurrency exchange Binance has reimbursed about 95% of assets stolen in a cyberattack, the platform said. — ТАСС (Telegram)
- Cryptocurrency exchange Binance has reimbursed about 95% of assets stolen in a cyberattack, the platform said. — ТАСС (Telegram)
- Binance reimbursed 90% of losses from the sum stolen during a cyber attack. Assets in Bitcoin, Ethereum, Solana and XRP are insured... — ТАСС (Telegram)
- Binance claims full compensation for losses of holders of main tokens — DW Главное
- Binance reported reimbursement of 90% of losses after a cyber attack — Коммерсантъ
- Binance stated it will compensate 90% of user losses after a cyber attack — Ведомости
- Binance reimbursed clients 90% of stolen assets, in Bitcoin - at 100% — Вести