Binance says it holds $5B in matching tokens to cover hack losses
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Binance announced on Friday that it set aside over $6.34 billion in company funds following a record $6.3 billion hack, with $5 billion held in the exact tokens stolen and kept in exchange custody. Blockchain intelligence firm TRM Labs attributed the Thursday attack—which drained wallets across 10 blockchains—to North Korean hacking group TraderTraitor. Binance stated the holdings will appear in its next proof-of-reserves report and that it provides weekly fund reports to Abu Dhabi's Financial Services Regulatory Authority.
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