Binance Confirms $6.3 Billion Hack Losses Covered, New Reserve Disclosure Still Pending

Binance has confirmed that it has replaced all user assets affected by the $6.3 billion security incident in October. The exchange said customers would be able to verify their 1:1 asset backing once its latest Proof of Reserves process is completed. The recovery involved three funding sources: its Secure Asset Fund for Users (SAFU), Futures Insurance Funds and corpora...