Binance, the world’s largest cryptocurrency exchange, has reported that it has covered 90% of the $6.3 billion (£4.7 billion) worth of assets stolen in a recent hack. The remaining 10% may take longer to recover, the company stated.
Binance has committed to compensating users for 100% of their losses from what is believed to be the largest hack in crypto history, allocating over $6.34 billion from company funds for this purpose. In a statement on Saturday, Binance assured that it would absorb the financial impact of the theft rather than passing it on to its users.
Following the incident, Binance suspended withdrawals, but an update on Sunday confirmed that access had been restored across several networks. The company intends to resume withdrawals in phases.
The Federal Bureau of Investigation (FBI) recently identified North Korea as the mastermind behind the attack. Hackers were observed converting the stolen assets into Ethereum and are expected to use decentralised finance tools to further swap the funds.
Analysts earlier informed the BBC that there is strong evidence implicating North Korea’s Lazarus Group, named specifically by the FBI, in the attack.
US President Donald Trump commented on the situation, stating that the US is still determining the culprits involved. “We’re learning about it. We don’t know if it’s North Korea – but if it is, we’ll talk to North Korea about it,” he said.
Binance has replenished the stolen assets using various sources, including its corporate treasury. The company stated that all holdings in bitcoin, Ethereum, Tether, and seven other widely-traded cryptocurrencies are now secure.
This hack surpasses the previous largest heist of $1.5 billion on the Bybit exchange in 2025, which was also attributed to North Korea. The North Korean government has consistently denied any involvement in such attacks.
