Binance said it had covered 90% of the losses resulting from the security breach valued at $6.3 billion. The recovery effort ensured full backing for ten major cryptocurrencies. The exchange had suspended withdrawals while addressing the fallout from the hack, which had initially frozen approximately $3 billion on-chain. It plans to resume withdrawals on November 1 in an effort to restore liquidity and customer confidence. Observers will monitor the reopening of the services and any further security measures announced by Binance.
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