Binance confirmed it transferred 7,499 Bitcoin from its user protection fund to help cover losses from a reported $6.3 billion hack. Its publicly disclosed emergency Bitcoin wallet later held about 7,500 BTC, worth $583 million, down from about 15,000 BTC before the transfer. The fund’s policy sets no deadline for replacing money withdrawn after a security incident, and Binance did not immediately answer questions about its remaining reserves or replenishment plans.
Binance began reopening withdrawals in phases and said it had replaced about 95% of the affected assets while continuing to buy the remaining, less-liquid tokens. The exchange also said users could verify balances against a proof-of-reserves snapshot that showed holdings in 10 cryptocurrencies were backed at least 1:1. The FBI attributed the attack to North Korea.
