🔶 Binance company pays 6.3 billion dollars for the damage caused by the ground hacker attack.
Binance Exchange, one of the largest cryptocurrency trading platforms in the world, announced that it will compensate all losses caused by the ground cyber attack on the company and set aside more than $6.34 billion of its financial resources to cover this loss.
This ground attack, which led to the theft of approximately $6.3 billion in digital assets, is currently described as the largest recorded theft of a cryptocurrency exchange.
In its latest announcement on Friday, October 30, Binance announced that $5 billion of dedicated resources to compensate for the damage will now be kept in the form of the same cryptocurrencies stolen in the ground attack.
This amount covers about 80% of the damaged assets and the company buys the rest of the cryptocurrencies through trading markets and over-the-counter transactions. This company stressed that the financial loss caused by the theft will be borne by Binance itself and its dedicated user support reserve fund, known as SAFU, and users' property should not be affected by this ground attack.
Binance also announced that so far approximately $3 billion of assets related to the ground attack have been frozen on the blockchain platform with the cooperation of legal entities, blockchain analytics companies, and other cryptocurrency industry activists.
This company, which is the regimental owner of one of the world's largest crypto exchanges, said in its announcement that about five billion dollars were provided from the company's financial resources in the form of cryptocurrencies corresponding to the lost assets, including Bitcoin, Ethereum, Binancecoin, Tether and USDC, and to cover the rest of the damages using the public coins required for purchase over the public coins and currencies. transactions.
Over-the-counter or OTC transactions are the direct purchase and sale of assets between parties, outside the general order book of the exchange. Binance announced that these resources are provided by the SAFO fund and the company's financial treasury.
This fund is a dedicated financial reserve resource created by Binance to support users in emergency situations.
The company also promised to publish a new report of its reserves to clarify the state of the assets.
The first updated snapshot of Binance reserves should be prepared and the results will be published by Monday, November 2nd.
The balance proof report allows users to check the amount of assets held on the platform and the support available for their account balances.