Binance replaces 90% of stolen crypto after record $6.3 billion hack, pledges to cover remaining losses

What happened: Binance said it replaced 90% of assets stolen in a $6.3 billion hack using its own funds, and pledged to cover the remaining 10% of less liquid tokens. Key numbers: $6.3 billion hack; 90% replenished; 10% remaining; about $6.34 billion allocated internally; $1 billion SAFU fund; snapshot as of 0000 GMT on October 31; 10 listed tokens. Why it matters: Co-CEO Richard Teng said users will not bear the financial impact. Crypto prices declined on Friday, and Binance said it remained on track to resume withdrawals on Sunday after temporarily suspending them. Coverage: 13 outlets in 24h

Binance said it replaced 90% of assets stolen in a $6.3 billion hack using its own funds, and pledged to cover the remaining 10% of less liquid tokens.

Co-CEO Richard Teng said users will not bear the financial impact. Crypto prices declined on Friday, and Binance said it remained on track to resume withdrawals on Sunday after temporarily suspending them.