Crypto exchange Binance announced on Saturday that it has restored 90 percent of the assets stolen in a record $6.3 billion hack, utilizing company reserves to repurchase the affected tokens. The remaining 10 percent consists of less liquid tokens that may require additional time to acquire, the exchange stated in a post on X.
“We’ve now replenished 90 percent of the stolen assets, and we’re committed to covering the remaining 10 percent. Our users will not bear the financial impact of this incident,” co-CEO Richard Teng wrote on X.
Cryptocurrency prices declined on Friday as Binance—the world’s largest crypto exchange—worked to reassure customers that their funds remained secure after losing over $6 billion in digital assets. Analysts have attributed the breach to North Korean actors.
On Friday, Teng described the breach as a “complex attack” involving a compromised laptop and malicious software designed to erase evidence of its activity, complicating tracing and investigation efforts.
Following the hack, the exchange temporarily suspended customer withdrawals but confirmed on Saturday it remains on schedule to resume withdrawal services on Sunday.
Binance indicated it has allocated approximately $6.34 billion in internal company funds to cover the losses. The capital used to repurchase tokens was drawn from its $1 billion Secure Asset Fund for Users (SAFU)—a Bitcoin reserve maintained to protect customers during security events—as well as its Futures insurance fund and corporate treasury, according to the statement on X.
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