Binance says billions replaced from hack that FBI blames on North Korea
Binance has replenished 90% of the funds stolen in a $6.3 billion cryptocurrency hack, which the FBI attributes to a North Korean state-sponsored group. The exchange is working to restore full withdrawal capabilities while promising to cover all user losses.
Why it matters
This incident highlights the massive scale of cyber threats facing the crypto industry and the geopolitical implications of state-sponsored digital theft.
The remaining 10 per cent consists of tokens that are less liquid, meaning they may take longer to buy, it said in a statement posted on X.
"We've now replenished 90 per cent of the stolen assets, and we're committed to covering the remaining 10 per cent. Our users will not bear the financial impact of this incident," co-CEO Richard Teng said on X on Saturday.
Crypto prices fell on Friday, while Binance — the world's biggest crypto exchange — sought to reassure customers that their funds were safe after losing more than $6 billion worth of crypto in a hack that analysts and the FBI blamed on North Korea.
Headlinne story · 8 newsrooms
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