Binance says it has $6.34 billion ready to cover hack losses

Binance has allocated $6.34 billion to cover hack losses, while industry partners have frozen another $3 billion in affected assets.
This story was originally published by The Block.

Binance has allocated $6.34 billion to cover hack losses, while industry partners have frozen another $3 billion in affected assets.
This story was originally published by The Block.
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Binance is working with law enforcement to recover $3 billion that is frozen, after setting aside more than $6.3 billion from the company’s funds to cover the shortfall.
Israel's Supreme Court ruled that exploiting a coding flaw can count as computer intrusion, even when the software allowed the transaction.
The exchange said it set aside more than $6.34 billion to cover losses and would include the assets in its next proof-of-reserves report.