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Binance Puts Breach Impact at $6.3 Billion, Including Frozen Assets

The exchange said it would reimburse affected users through its Secure Asset Fund for Users and corporate resources.

Updated 1 min read
The One Central office complex stands beside Dubai World Trade Centre in Dubai, United Arab Emirates. / TokenPost.ai
The One Central office complex stands beside Dubai World Trade Centre in Dubai, United Arab Emirates. / TokenPost.ai

Binance's estimate of the Oct. 29 breach's total impact includes assets it said had been frozen, clarifying that the $6.3 billion figure is not a final loss tally.

In its Oct. 30 update, Binance valued the breach's total impact at about $6.3 billion and put assets frozen on blockchain networks at roughly $3 billion. The exchange said it would draw on its Secure Asset Fund for Users (SAFU) and corporate resources to reimburse affected users.

The $3 billion tally is part of the $6.3 billion estimate, rather than an additional amount. Binance's estimate measures the incident's impact; it does not give a final calculation of the company's net loss.

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