Nigeria, Oct. 30 -- Binance, the world's largest cryptocurrency exchange, said it has reserved more than $6.34 billion in company funds to cover assets stolen in a recent cyberattack, assuring customers that their funds were not affected.

Richard Teng, Binance's co-chief executive officer, disclosed this in a video address following the security breach on Friday, saying the company was committed to covering all losses from its own funds.

Earlier on Friday, the company estimated the financial impact of a security incident in an X post, which involved unauthorised withdrawal transactions of about $6.3 billion.

It said the cryptocurrency platform will cover all losses through its Secure Asset Fund for Users (SAFU) and company funds.

Acco...