Binance Loss Cover Plan

Binance announced that it had compensated users for about 90% of the assets stolen in a hack that caused losses of $6.3 billion, and pledged to cover the remaining 10% from company funds to ensure users suffer no losses. It said completing the compensation would take time because the remaining tokens are less liquid, and that it had allocated about $6.34 billion of its own funds to cover the losses. The platform had halted customer withdrawals after the attack and expected to resume them on Sunday.

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