Sri Lanka, Nov. 3 -- Binance has set aside more than $6.34 billion in company funds to cover losses from a recent incident, the exchange said in a statement.

Of that sum, $5 billion is already held in the exact token assets affected. The company is buying the remainder through market and over-the-counter channels to match the impacted tokens, a process that may take longer where liquidity is low.

Separately, $3 billion in assets has been frozen with help from industry partners. Binance is working with law enforcement, issuers and blockchain intelligence firms to recover them.

All user funds will be verified through its Proof of Reserves. "We will weather this storm," the statement said.

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