Binance reserves $6.34B after hack, targets phased withdrawals

Binance has set aside more than $6.34 billion to cover its $6.3 billion security breach and outlined plans to begin restoring withdrawals within approximately 34 hours, subject to security checks. Binance says $5 billion is already held in the same cryptocurrencies stolen during the attack. Withdrawals will reopen in phases after security checks, while deposits and unaffected services remain operational. Proof of Reserves results are scheduled for Nov. 2, following an initial asset snapshot. Investigators have identified additional breach points, with no evidence so far of leaked wallet private keys. Binance’s second recovery update, dated Oct.

Source: crypto.news