Binance, the world’s largest cryptocurrency exchange by trading volume, has resumed normal withdrawal operations after a massive security breach saw approximately $40 million worth of Bitcoin stolen in one of the largest hacks in crypto history. The exchange confirmed that the stolen funds were secured through its emergency insurance fund, SAFU (Secure Asset Fund for Users), and that it has already recovered around 95% of the compromised assets, ensuring that all user funds remain safe and unaffected by the incident. This swift action and partial recovery demonstrate Binance’s commitment to user security and its robust contingency planning in the face of unprecedented cyber threats.
Adapted from: WSJ.com: Markets
