Binance covers 90% of $6.3bn hack losses as FBI links North Korea

theguardian.com —

Binance has replaced 90% of funds stolen in a record $6.3bn hack, with the FBI attributing the attack to North Korean state-sponsored group TraderTraitor. Withdrawals are expected to resume Sunday. The exchange committed to covering the remaining 10% of less liquid tokens, ensuring users face no financial loss. The FBI confirmed TraderTraitor, linked to the Lazarus Group, is converting stolen assets into Ethereum for further laundering. Binance funded recovery through its $1bn Secure Asset Fund, Futures Insurance Fund, and corporate treasury. The hack caused Bitcoin to fall nearly 5%, with Ethereum and BNB dropping 6% and 10% respectively.


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