A phone propped up in front of a laptop. On the phone screen it says Binance and the blurred laptop screen shows a bar chartImage source, Bloomberg via Getty Images
ByImogen James
  • Published10 minutes ago

Binance, the world's largest cryptocurrency exchange, says it has covered 90% of the $6.3bn (£4.7bn) assets stolen in a hack on Thursday.

The remaining 10% may take longer to source in the required amounts, the company added.

Binance has consistently pledged to cover 100% of the losses from what is suspected to be crypto's biggest hack on record and said it has set aside more than $6.34bn in company funds to do so.

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