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Binance restores US$6.3 billion in stolen crypto tokens

Binance restores US$6.3 billion in stolen crypto tokens

Binance said it has covered all of the US$6.3 billion (S$8.1 billion) in cryptoassets pilfered from customers, marking a capstone to the largest cybertheft in history.

The Oct 29 incident, which the US government and analysts have blamed on North Korea, involved not just common cryptocurrencies like Bitcoin, but more obscure tokens that took Binance more time to find and purchase.

As at Nov 12, the crypto exchange had restored all of them, according to a social media post. 

“To our users and community: thank you for your patience and understanding,” Binance said in its post on social media platform X.

Binance spent a mixture of its profits and other emergency funds to quickly restore most of the stolen tokens in a matter of days, but…

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