Beijing: Cryptocurrency exchange Binance has replenished approximately 90% of the assets stolen in a record-breaking $6.3 billion security breach, assuring users that the company will absorb the financial losses rather than pass them on to customers.
In an official security update issued on Saturday, Binance said it had increased the coverage of affected assets from approximately 80% to 90%.
The remaining 10% consists of less-liquid cryptocurrency tokens that may take longer to acquire in the required quantities.
The exchange said it had internally allocated approximately $6.34 billion in company funds to cover the losses.
According to Binance, the replenishment process involved partially deploying its $1 billion Secure Asset Fund for Users (SAFU), contributions from its Futures insurance fund and the company’s corporate treasury.
Binance also confirmed that major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), BNB, Solana (SOL), USD Coin (USDC), XRP, USD1, RLUSD and Zcash (ZEC), are now fully backed at a 100% ratio.
The company said it would continue purchasing the remaining affected tokens through market and over-the-counter (OTC) channels in coordination with industry partners.
The security breach, which reportedly involved approximately $6.3 billion in stolen cryptocurrency, was attributed to a sophisticated cyberattack involving a compromised laptop and malicious software designed to erase evidence of the intrusion.
Binance said it had also completed a fresh Proof of Reserves snapshot dated October 31, allowing users to independently verify that their assets are backed on a 1:1 basis once the full verification process is completed.
The exchange further announced that it remains on track to resume withdrawal services on Sunday, November 1.
Binance reiterated its commitment to covering the entire financial impact of the incident and protecting customer assets.