Binance Sets Aside $6.34 Billion to Cover Crypto Theft Losses
Binance suffered a major security breach resulting in the theft of $6.3 billion in digital assets. To protect users, the exchange will use its Secure Asset Fund for Users to absorb the losses rather than passing them on to users. Working with law enforcement, Binance has successfully frozen about $3 billion of the stolen cryptocurrency across multiple blockchains.
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