Binance Co-CEO: Binance's financial position is currently "very solid"

Odaily reports: Binance Co-CEO Richard Teng stated at the Hong Kong Fintech Week event on Tuesday that Binance's current financial position is "very solid." The platform's hourly capital inflows and outflows have essentially returned to normal, and 95% of the affected tokens have been fully replenished. The remaining 5% are mainly low-liquidity tokens, and Binance is working with over-the-counter trading service providers to restore the related assets.

Teng stated that the losses this time will be covered by the Secure Asset Fund for Users (SAFU) and other funds reserved by the company, ensuring the safety of user funds. As of Monday, Binance customers had cumulatively net withdrawn approximately 4.72 billion USD, accounting for about 3% of the platform's assets, the majority of which was USDT. He said: "This is a painful lesson, and we take responsibility for it. We will become stronger."

Additionally, the U.S. Federal Bureau of Investigation (FBI) previously identified North Korea as responsible for the incident, while North Korea denied the related allegations.