The world’s largest cryptocurrency exchange has launched a tool that allows customers to confirm that their account balances in 10 major assets, including Bitcoin and Ethereum, are held by the company at a 1:1 ratio. Binance stated it has used its own corporate capital to replenish about 95% of the funds lost in a recent security breach, though the exchange is still acquiring the remaining 5% in tokens that are less liquid.
The move comes as the company works to recover from a cyber theft attributed to North Korea that resulted in a $6.3 billion loss. While net outflows from the platform hit $4.7 billion since Sunday, Binance noted the amount represents roughly 2.1% of its $171 billion in total reported assets. The firm plans to restore withdrawals for additional networks on Nov 3 and will conduct another reserves snapshot on Nov 4.