Binance Co-CEO: Binance's current financial condition is "very solid"

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

Teng said the losses this time were covered by the Secure Asset Fund for Users (SAFU) and other funds reserved by the company, and user funds have been safeguarded. As of Monday, Binance customers had seen cumulative net outflows of about $4.72 billion, accounting for roughly 3% of the platform's assets, most of which was USDT. He said: "This is a painful lesson, and we take responsibility for it. We will become stronger."

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