Hacking News
Binance Announces Compensation for Hack Losses
Binance, a cryptocurrency exchange, has announced it will compensate users for all losses incurred during a recent hack. As of today, 90% of the affected assets have already been recovered. The exchange has set aside more than $6.34 billion in company funds to cover the hacked losses, and they will continue to purchase remaining affected stolen assets through market and OTC channels. The exchange will absorb the financial impact of these stolen funds, not users.