✉news WorldWorld first seen 5 d ago, last 4 d ago, peak #5
Binance to cover 90% of losses after $6.3bn hack
Original: Crypto firm Binance covers 90% of losses after $6.3bn hack
Crypto exchange Binance says it will compensate users for 90% of their losses following a hack worth around $6.3bn. The move makes Binance cover the bulk of the damages itself rather than leaving customers fully exposed. The news is drawing attention across the crypto world, with debate over the exchange's security practices and its decision to absorb most of the losses.
Why now: A major crypto exchange suffering one of the largest hacks in the industry's history and offering to reimburse most losses is significant breaking news for investors.
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