Binance Allocates $6.34 B to Cover Hack Losses, Partners Freeze $3 B in Affected Assets

Binance has set aside $6.34 billion to cover losses from a recent hack that compromised user funds. In addition, industry partners have frozen an extra $3 billion in affected assets to protect investors and maintain market stability. The move follows the exchange’s announcement that the hack had impacted a significant portion of its holdings, prompting a coordinated response from the broader crypto ecosystem.