Digital Currency

Add as a preferred source on Google

Binance Commits SAFU and Company Funds to Cover Hack Losses

Binance co-founder Changpeng Zhao put the hack-related gap at $2 billion and mentioned SpaceX shares without saying whether they had a role in reimbursements.

Updated 1 min read
Workers enter a glass office tower at One Central in Dubai, United Arab Emirates. / TokenPost.ai (macro)
Workers enter a glass office tower at One Central in Dubai, United Arab Emirates. / TokenPost.ai (macro)

Changpeng Zhao put the hack-related gap at $2 billion; Binance said it would cover every loss through SAFU and company funds.

The commitment names SAFU and company funds as sources, but gives no allocation between them. Zhao separately referred to SpaceX shares; he did not say they would finance repayments or connect them to Binance’s coverage plan.

A separate response involved a freeze of tokens in a wallet tied to the breach. Pundi X Labs froze the tokens, as described in EconoTimes’ coverage of the wallet freeze.

Related articles

View all