Yi He: Binance Will Cover All Losses from Stolen Funds; Deposits and Withdrawals Temporarily Suspended

According to TechFlow, on October 30, Binance co-CEO Yi He posted on X at 08:04 Beijing Time that user funds are safe and Binance will cover all losses caused by the hack.

Yi He said that Binance has temporarily suspended deposits and withdrawals, and the team is conducting security checks, freezing affected funds, and cooperating with law enforcement. Once the investigation is complete, Binance will publish a full incident review report. She also urged users to rely solely on information published through Binance's official channels.

TechFlow previously reported that CZ said the actual loss from this incident may slightly exceed $1 billion and expects user funds to be fully covered. The situation is still developing; please be aware of the risks.

Source: TechFlow