Politics
Binance recovers 90 percent of assets after $6.3 billion hack
Binance replenished most stolen assets following a major hack, suspending transactions during the incident.
Photo: Tomascastelazo / CC BY-SA 4.0, via Wikimedia Commons
Cryptocurrency exchange Binance announced it had recovered 90 percent of the assets stolen in a $6.3 billion hack, The Hill reported.
The hack led to the movement of funds out of Binance wallets, prompting the company to suspend all deposits and withdrawals to contain the breach.
In response to the incident, some cryptocurrency firms froze approximately $3 billion in assets linked to the hack.
The recovery of the majority of stolen assets marks a significant step for Binance in addressing the security breach and restoring user confidence.
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