Abu Dhabi’s Financial Services Regulatory Authority (FSRA) is monitoring Binance after unauthorized withdrawals on Oct. 30, while the exchange estimates the incident’s total impact at $6.3 billion.
The authority said its work with the exchange is guided by two aims: looking after clients and maintaining market integrity.
In its Friday update, Binance put the event’s overall financial effect at about $6.3 billion. It said blockchain partners helped freeze affected assets valued at about $3 billion. EconoTimes previously covered Binance’s withdrawal pause after the incident.
Binance’s initial review pointed to a compromised engineer’s laptop as one possible route used to gain access. The exchange said it found no indication that wallet private keys had been leaked.
The exchange said its emergency protection fund and company funds would cover all losses. Law enforcement and blockchain intelligence partners are assisting its effort to trace and recover the assets.
