Economy
Binance Covers $6.3 billion Loss Following Record Crypto Heist
The world's largest cryptocurrency exchange used its own funds and an emergency reserve to cover the affected assets, while US authorities announced seizures linked to the case.
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The essentials of this story
- What happened
- Binance finished covering the assets affected by the $6.3 billion theft and updated its proof of reserves.
- Who is affected
- Binance users and customers, as well as the global cryptocurrency market.
- What changes
- User balances now have the guarantee of full coverage by the exchange, while international authorities maintain the tracking and blocking of funds associated with the North Korean attack.
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