After the hack, the exchange stopped allowing customers to withdraw their funds, but it said on Saturday it was still on track to reopen withdrawals on Sunday.
Binance said it has set aside around US$6.34 billion of company funds internally to cover the losses.
The money spent re-buying tokens came from using part of its US$1 billion Secure Asset Fund for Users (SAFU), a bitcoin reserve it holds to protect customers in the event of security breaches, as well as some of its Futures Insurance Fund, and the company’s own corporate treasury, it said on X.
Binance also said it had taken a new snapshot of assets held on its platform as of midnight on October 31, as part of its proof-of-reserves process.
Users holding the 10 listed tokens — BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC — would be able to verify that their assets were backed at a minimum ratio of 1:1 once the full proof was available, it said.
Source: www.channelnewsasia.com
