Skip to main content
Back to news
SafetyHigh impact — Significance is rated automatically and is not a price signal.

Binance Allocates $6.34 Billion to Cover Losses From Hack

(3 hours ago) · 1 source · Summarized by CryptoBipto

Binance has reportedly set aside $6.34 billion to cover losses resulting from a hack. The exchange's CEO stated that user assets are safe. Details about the scope and nature of the hack have not been fully disclosed.

WHY IT MATTERS

A cryptocurrency exchange is like a bank where people store their crypto.

Read the full analysis with a CryptoBipto membership

Members read why every story matters and the full analysis behind it.

SOURCES

  • decrypt.co

RELATED

Exchange SecurityBinanceHackUser Fund SafetyCentralized Exchanges