Binance: More than $6.34 billion in corporate funds have been reserved to compensate users for losses, with some tokens being replenished through market and OTC channels

DeepChao TechFlow reported that on October 30, Binance (@binance) issued a statement on X. Binance has begun recovering assets for affected users and continues to work with law enforcement, token issuers, blockchain intelligence firms, and industry partners to trace, freeze, and recover additional funds. Binance said it has reserved more than $6.34 billion in corporate funds to cover losses from this incident, of which $5 billion is already held in the original form of the affected tokens, while the remainder is being replenished by purchasing the corresponding tokens through market and OTC channels. Some tokens have lower liquidity, and OTC settlement also takes time, so this step may be lengthy. Binance also said that $3 billion has currently been frozen; this amount is not included in the aforementioned reserve funds, and the related assets are still being recovered and verified.

Source: DeepChao TechFlow