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Binance stated that it will absorb the financial impact of the stolen funds rather than its users.

This line is our short summary of the quote below. The quote is the evidence.

ReportedresponseStatement 2

"Binance will absorb the financial impact of these stolen funds, not our users," the company said in a statement on Saturday.

Speaker
Binance
Publisher
BBC News (News media)
Original
Crypto firm Binance covers 90% of losses after $6.3B hack
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sha256 2b6203604962
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Other statements from the same source

ReportedattributionStatement 338

The BBC described TraderTraitor as also known as the Lazarus Group.

they had robust intelligence pointing to North Korean state-backed hacking unit the Lazarus Group, also known as TraderTraitor

Speaker
Not recorded
Publisher
BBC News (News media)
Original
Crypto firm Binance covers 90% of losses after $6.3B hack
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ReportedrecoveryStatement 11

The US Secret Service stated that it is working around the clock with private sector partners to identify, freeze, trace, and recover funds stolen from Binance.

The US Secret Service said on Friday it is "working around the clock" with private sector partners "to identify, freeze, trace, and recover funds" stolen from Binance.

Speaker
US Secret Service
Publisher
BBC News (News media)
Original
Crypto firm Binance covers 90% of losses after $6.3B hack
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ReportedfreezeStatement 10

Binance stated that it had frozen around $3bn of stolen assets after working with law enforcement, intelligence firms, and partners.

On Friday, the company said it had frozen around $3bn of stolen assets after working with law enforcement, intelligence firms and partners.

Speaker
Binance
Publisher
BBC News (News media)
Original
Crypto firm Binance covers 90% of losses after $6.3B hack
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sha256 2b6203604962
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Reportedroot causeStatement 9

Richard Teng, Binance's co-chief executive officer, stated that the hack was carried out by more than one person using sophisticated methods to hide their tracks.

Richard Teng, Binance's co-chief executive officer, said the hack was carried out by more than one person, and the hackers used sophisticated methods to hide their tracks, such as a "self-destruct mechanism".

Speaker
Richard Teng
Publisher
BBC News (News media)
Original
Crypto firm Binance covers 90% of losses after $6.3B hack
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Reportedroot causeStatement 8

Binance's initial investigation suggested an engineer's laptop was compromised, allowing access to unauthorised withdrawals, but a later update said they had uncovered additional points of breach.

Binance's initial investigation suggested an engineer's laptop was compromised, which allowed access to unauthorised withdrawals, but a later update said they had uncovered "additional points of breach".

Speaker
Binance
Publisher
BBC News (News media)
Original
Crypto firm Binance covers 90% of losses after $6.3B hack
Captured
Stored copy
sha256 2b6203604962
Published