Binance sets aside over $6.34 billion to cover losses from attack
Jake Thompson has a degree in Journalism from the University of North Dakota and has spent the last three years reporting for business publications in the region. He specializes in local finance, investment opportunities, and economic development.
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Oct 30 (Reuters) Binance said on Friday it has reserved more than $6.34 billion in company funds, including $5 billion already held in impacted token assets, to deal with the fallout of an attack in which hackers stole $6.3 billion from the crypto platform. All user funds will be verified publicly through its proof of reserves, and $3 billion in assets has been frozen with help from industry partners, Binance said. (Reporting by Rajveer Singh Pardesi in BengaluruEditing by Tomasz Janowski)