Binance Co-CEO Teng says company’s finances are sound and it has replenished 95% of the $6.3 billion in stolen assets
Binance co-CEO Teng says company in healthy state after $6.3 billion theft
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Binance Co-CEO Richard Teng said the exchange has replenished 95% of the approximately $6.3 billion in stolen assets and that user funds are safe. The funds came from the Secure Asset Fund for Users (SAFU) and other company funds. The remaining 5% will be sourced from private traders, and deposits and withdrawals have largely returned to normal.
The article presents the sources of the replenishment funds, SAFU and unaudited financial disclosures together, helping readers understand how the exchange is responding to the massive theft and the limits of its transparency.
Source:Cryptopolitan · cryptopolitan.com