Binance cryptocurrency exchange starts returning assets to affected users

Business & Economy October 30, 18:00

The cryptocurrency exchange announced earlier that it had been hacked

MOSCOW, October 30. /TASS/. The cryptocurrency exchange Binance has begun returning assets to affected users, having set aside over $6.34 bln from its own funds, the platform said in a statement.

"Binance has begun recovering affected assets for users and continues to work with law enforcement, issuers, blockchain intelligence firms and industry partners to trace, freeze and recover additional funds. <…> Binance has already reserved over $6.34 bln of company funds to cover this incident. $5 bln of these funds are already held in the exact token assets that were impacted," according to the statement on its X social media page.

These figures do not include frozen or protected assets, which remain subject to ongoing recovery and verification.

Binance announced earlier that it had been hacked. The cryptocurrency exchange could have lost $6.3 bln following the "security incident," which could have involved a compromised DevOps engineer’s laptop. Deposits remained unaffected and are operating normally. Binance suspended all deposit and withdrawal operations following a suspected hacker attack. A portion of the affected assets were frozen in collaboration with partners in the blockchain industry, with around $3 bln blocked directly on the blockchain.

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