Binance Sets Aside $6.34B to Cover Hack Losses, CEO Says 'Your Assets Are Safe'

Binance will cover every dollar lost in this week's hack with its own money, CEO Richard Teng said in a video address on Friday, adding that customer funds were never touched. "We are committed to covering all hacked losses through our company funds. Your assets are safe," Teng said, according to a transcript he tweeted. An update on the security incident. pic.twitter.com/qn2804fO5z — Richard Teng (@_RichardTeng) October 30, 2026 Binance has reserved more than $6.34 billion of company funds to...