Crypto firm Binance covers 90% of losses after $6.3bn hack

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. It said it had replenished the assets using various funds and its own corporate treasury.