Binance reports around $3 billion in stolen assets now frozen, per its update quoted by CoinDesk and CoinMarketCap.

It says teams are working with law enforcement, issuers, blockchain intelligence firms and industry partners to trace and freeze more, and will only share confirmed figures. User funds are safe.

It says it has begun recovering affected assets for users and is working to recover the frozen assets with partners and law enforcement.

For user losses, it says it reserved over $6.34B in company funds, with $5B already held in the exact impacted token assets, and is buying the rest via market and OTC channels, which can take longer on low-liquidity tokens.

These reserve figures exclude frozen or protected assets. It says it will continue to cover confirmed shortfall from company resources, with all user funds ultimately verified via Proof of Reserves.