Binance sets aside $6.34 billion to cover crypto hack losses

After facing a major crypto theft, Binance has assured users that they won’t lose money over the breach.The exchange is covering the $6.3 billion loss from its own funds, setting aside more than $6.34 billion to make up for the stolen assets. It has already replaced around 80 per cent of the stolen tokens and is working to restore withdrawal services in phases.So far, Binance has bought back $5 billion worth of the stolen cryptocurrencies, including USDC, USDT, Bitcoin (BTC), Ether (ETH) and BNB. It is now working on getting the remaining tokens back through market and OTC purchases.“This means that we have already covered approximately 80% of the impacted amount. We are…