Binance says it will cover all losses from the hack, with user funds safe.

Binance says it will cover all losses from the hack, with user funds safe.

Its post at 01:36 UTC Oct 30 says all deposits and withdrawals are temporarily suspended while it runs security checks, freezes funds and works with law enforcement, with a full post-mortem to follow. That repeats its 00:13 UTC statement pledging coverage.

That followed trackers putting the multi-chain outflow near $5.6B, including about $1.45B BTC, $875M ETH, $1.57B USDT and $823M USDC, per WatcherGuru.

Binance put verified frozen funds at around $3B at 00:52 UTC, up from $2.54B at 23:22 UTC Oct 29, with Tether, Circle and others freezing assets.

BNB traded about $700.6 on Binance spot, down about 6.8% in 24h.