Binance Restores 90% of Hacked Assets Ahead of Withdrawal Restart

Binance says it has restored backing for 90% of the assets stolen in the October 29 hack. Ten major cryptocurrencies, including Bitcoin, Ether and Tether, are now fully backed. Part of the money comes from insurance reserves built to protect futures traders. Withdrawals are planned for November 1, and the full reserve proof should follow on November 3. Binance said on October 31 that it has restored backing for 90% of the cryptocurrency stolen in the roughly $6.3 billion breach of its hot wallets on October 29 , up from 80% a day earlier, and that it still plans to…

Source: Crypto News Flash