Binance Says It Has Replenished 90% of $6.3 Billion Hack

Binance said Saturday it has covered 90% of the roughly $6.3 billion stolen in Thursday's hack. The exchange pledged to cover the remaining 10% as well.

$6.34 billion in company funds set aside to cover losses, Binance says.
10 major tokens, including bitcoin and ether, are fully backed, Binance says.
10% still outstanding is in less liquid tokens that are slower to buy.
$3 billion of stolen assets has been frozen, Binance said Friday.

Why it matters: The hack is far larger than the previous record, the $1.5 billion Bybit theft in 2025. Binance is paying from its own reserves.

Funding comes from its corporate treasury, user protection fund and futures insurance fund.
The exchange has an estimated hundreds of millions of users worldwide.

The story so far

4 steps · since Oct 29

Oct 29Binance Estimates $6.3 Billion Hit in Likely Record Crypto Hack72 sources
Oct 307:25 AMFBI Blames North Korea for $6.3 Billion Binance Hack42 sources
Oct 306:17 PMBinance Says It Has Replenished 90% of $6.3 Billion HackYou are here
Nov 1Binance Resumes Withdrawals After $6.3 Billion Hack22 sourcesLatest

How 15 sources split on this story

Source landscape

Factuality

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Strong LeftLeftLean LeftCenterLean RightRightStrong Right

Political Bias

Coverage by lean% of 15 sources

15 sources · 16 articles · 53% Center coverage

Where they split: Outlets differ on attribution: the New York Post states North Korean hackers did it, while BBC News and CNBC say analytics firms point to North Korea as likely culprits.

Center coverage, 8 sources: The center treats it as a record breach still under investigation, with recovery progress and open questions about the method.

BBC News1w+Crypto firm Binance covers 90% of losses after $6.3bn hack CNBC1w+Binance says 90% of $6.3 billion hack losses are now covered, plans to resume withdrawals Sunday Associated Press1w+Long accused of abetting crypto crimes, Binance has now become a victim Forbes1w+Binance Says It Plans To Resume Withdrawals This Weekend After $6.3 Billion Hack Jerusalem Post1w+Binance replenishes 90% of assets stolen in security incident Sky News1w+Majority of funds stolen in cryptocurrency hack replenished, Binance says The Hill1w+Binance recovers 90 percent of stolen assets from hack WPLG Local 101w+U.S. Secret Service joins search for $6.34B stolen from Binance

Left coverage, 3 sources: The left frames the story around Binance CEO Richard Teng's claim of progress, putting the word replenished in quotation marks.

The Verge1w+Binance CEO says 90 percent of stolen assets have been ‘replenished’Gizmodo1w+Masks Off: Crypto Industry Responds to Binance Hack by Acting Like Banks The Independent1w+Binance says it has covered 90% of losses from $6.3 billion hack

Right coverage, 4 sources: The right emphasizes the speed of Binance's refunds and points to North Korean hackers as the culprits.

New York Post1w+Binance has already refunded 90% of stolen $6.3 billion NTD1w+Binance Says It Has Covered 90 Percent of Losses From $6.3 Billion Hack The Sun1w+Crypto stolen from Binance is restored after hackers swipe $6.3bn in just minutes ‘in biggest bank heist in history’ZeroHedge1w+Binance Plugs 90% Of $6.3 Billion Hack Hole With Its Own Cash, Says Withdrawals Reopen Sunday

What’s next: Binance says withdrawals remain paused but are on track to resume Sunday, Nov. 1, pending security checks.

The US Secret Service says it is working with private firms to trace and recover funds.
Binance says users can verify 1:1 backing once its new proof-of-reserves is published.
How exactly did the attackers get in, beyond the compromised engineer's laptop Binance first described?
Will investigators formally confirm North Korea's Lazarus Group, also called TraderTraitor, as responsible?
How much of the frozen $3 billion can actually be recovered?