According to the company, the money used to repurchase the assets came from three sources: part of its $1 billion Secure Asset Fund for Users (SAFU), a Bitcoin reserve maintained to protect customers in the event of security breaches, part of its futures insurance fund and funds from the company’s own reserves.
Binance; the company used its Bitcoin reserves to repurchase stolen assets
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Binance added that it had taken a new snapshot of assets on its platform as of midnight Oct. 31 as part of its proof-of-reserves process, designed to verify that the exchange holds enough assets to cover customer deposits. Once the full verification is available, users holding any of the 10 listed cryptocurrencies will be able to confirm…
