Update
Binance Commits to Recovering Affected Assets
Binance has begun recovering affected assets for users and is working with law enforcement, issuers, and industry partners to trace, freeze, and recover additional funds. The company has already reserved over $6.34 billion in company funds to cover the incident, with $5 billion already held in impacted token assets. Binance is purchasing the remaining amount through market and OTC channels to match the format of the assets. The recovery process may take longer due to low liquidity and OTC settlement times. $3 billion has been frozen, with ongoing efforts to recover the frozen assets. Binance will continue to use company resources to cover confirmed shortfall and provide further updates as recovery progresses. All user funds will be verified publicly through their Proof of Reserves.