Binance says it has begun returning the digital assets stolen from its users following an estimated $6.3 billion hack attributed to North Korean hackers. The platform has set aside more than $6.34 billion in its own funds, including $5 billion already held in matching cryptocurrencies, to fully cover the losses. It is buying the missing tokens through on-exchange and over-the-counter transactions, drawing on its SAFU fund and its bitcoin and ether reserves. Completing the restitution could nevertheless take time because of the low liquidity of some tokens and the settlement times for over-the-counter transactions. Binance also says that partners have frozen $3 billion in assets, while withdrawals, currently suspended, are expected to resume within the next 48 hours.
Source: Read the original article
