Binance Covers $6.34B Hack With Company Funds
Binance has stated that it has fully covered a $6.34 billion hack using company funds, according to Bitcoin Magazine.
Crypto exchange Binance has announced that it has fully covered the $6.34 billion hack using company funds, according to Bitcoin Magazine. The platform addressed the massive security incident by utilizing internal reserves to ensure the affected amounts are completely accounted for.
Hack Resolution
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The exchange confirmed that company capital was deployed to cover the entirety of the $6.34 billion loss resulting from the exploit.
Key facts
- Binance stated it has fully covered the $6.34 billion hack
- Company funds were used to cover the total amount
Source: news.google.com
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