Binance says 90% of losses from $6.3bn hack covered as FBI says North Korea behind attack
Binance has recovered 90% of the $6.3 billion stolen in a recent cyberattack, with the remaining 10% expected to be covered by the company. The FBI has officially attributed the hack to the North Korean-backed Lazarus Group, specifically the TraderTraitor unit.
Why it matters
This represents one of the largest cryptocurrency thefts in history, highlighting significant security vulnerabilities in global exchanges and the ongoing threat of state-sponsored cyber warfare.
Binance is the world’s largest crypto exchange by daily trading volumes. Binance is the world’s largest crypto exchange by daily trading volumes. Binance Binance says 90% of losses from $6.3bn hack covered as FBI says North Korea behind attack Cryptocurrency exchange says withdrawals expected to resume on Sunday as FBI blames North Korean state-sponsored group TraderTraitor
Prefer the Guardian on Google Cryptocurrency exchange Binance says it has replaced 90% of the amount stolen after a record $6.3bn hack of its platform by a group the FBI identified as being backed by North Korea .
The remaining 10% of tokens are less liquid, meaning they may take longer to buy, the company said in a post on X on Saturday. Co-CEO Richard Teng said separately that the company was “committed to covering the remaining 10%” and that “users will not bear the financial impact of this incident”.
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