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Binance sets aside over $6.34 billion to cover losses from attack

Jake Thompson
Jake Thompson
Jake Thompson
Reporter · Fargo, ND

Jake Thompson has a degree in Journalism from the University of North Dakota and has spent the last three years reporting for business publications in the region. He specializes in local finance, investment opportunities, and economic development.

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Reporter · Friday, October 30, 2026 at 2:03 PM · 1 min read
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Binance sets aside over $6.34 billion to cover losses from attack — Fargo Business news

Oct 30 (Reuters) Binance said on Friday ​it has ‌reserved more than $6.34 billion in company funds, including $5 ‌billion ​already ⁠held in ⁠impacted token assets, to deal with the fallout ​of an attack ⁠in which ⁠hackers stole $6.3 ​billion from ​the crypto platform. All user funds ‌will be verified publicly through its ⁠proof of reserves, and $3 billion in ⁠assets ‌has been ⁠frozen with ​help ‌from industry ​partners, Binance ⁠said. (Reporting by Rajveer Singh Pardesi in BengaluruEditing by Tomasz ​Janowski)

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