Binance says 90% of balances affected by $6.3 billion hack are backed again

Binance says it has restored the reserve backing for about 90% of the crypto assets affected by a reported $6.3 billion theft and is aiming to reopen withdrawals on Sunday, November 1, after security checks. The crucial distinction is that it has not said it recovered 90% from the attackers: it says it has replaced the missing tokens using company money, part of its emergency customer-protection fund and a futures insurance reserve. That is the immediate test for a crypto exchange that holds customer assets: whether it can make balances withdrawable despite the loss. Binance says 10 major tokens are now fully backed, while it is still sourcing the final 10%, largely less-traded tokens, and has promised users will not bear the loss.