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Binance Confirms Hot Wallet Exploit and RSR Recovery Efforts

Binance has confirmed that an attacker drained one of its hot wallets, including the stolen RSR tokens. The company has set aside over $6.34 billion in company funds to cover the losses. Binance will re-purchase the missing 3.38 billion RSR tokens through market and OTC channels. Withdrawals for RSR on Binance are paused while the team rebuilds and retests the withdrawal system. A full proof-of-reserves report is promised by Monday.

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