Binance has pledged to cover all losses following a cyberattack estimated to have cost approximately $6.3 billion, as investigators examine a breach that could represent the largest cryptocurrency theft in history.

The cryptocurrency exchange said it would use its Secure Asset Fund for Users (SAFU) and company funds to compensate for the losses, insisting that customer funds remain safe and deposits continue to operate normally.

The announcement followed unauthorised withdrawals from Binance hot wallets across multiple blockchains on October 29.

Blockchain analytics firm Chainalysis estimated the value of the stolen assets at approximately $6.4bn, slightly higher than Binance’s initial estimate.

Binance said its preliminary investigation…