Crypto firm Binance covers 90% of losses after $6.3bn hack
Binance, the world's largest cryptocurrency exchange, says it has covered 90% of the $6.3bn (£4.7bn) assets stolen in a hack on Thursday.
TL;DR
- Binance has covered 90% of the $6.3 billion in assets stolen in a hack.
- The company will absorb the financial impact, not users.
- Intelligence suggests the North Korean state-backed Lazarus Group is responsible.
- Binance is working with law enforcement and has frozen around $3 billion in assets.
- Withdrawal services are on track to reopen on Sunday, November 1st.