Binance Says $6.34B Set Aside to Cover Hack Losses; $3B in Stolen Funds Frozen

The scale here is the story: a single exchange hack now ranks among the largest crypto losses on record, and Binance's decision to disclose a dedicated reserve covering the full amount is a notable transparency move for an industry where incident reporting is often sparse. The roughly $3 billion frozen matters just as much — it suggests law enforcement and chain-analytics coordination is having real effect, which shifts recovery expectations for an incident of this size. The open question is how much of the remaining funds can still be traced and frozen, and whether the disclosed reserve is independently verifiable.