Binance covers 95% of stolen assets after $6.3 billion hack

Binance experienced an initial surge in customer withdrawals after resuming asset withdrawals on Sunday, following a $6.3 billion token theft from its platform, which analysts and the FBI have linked to North Korea. The exchange said it has covered 95% of the stolen assets and that withdrawal levels are now stabilizing. The heist, potentially the largest financial robbery ever, saw over $3.5 billion in net outflows on Sunday, according to DefiLlama. Binance is using company funds, including its SAFU reserve, to replace stolen tokens, and has frozen about $3 billion of affected assets with industry partners. The FBI attributed the attack to the North Korean state-sponsored unit TraderTraitor. The remaining 5% of stolen assets are less liquid and may take longer to source. Binance co-CEO Richard Teng described the breach as a complex attack involving a compromised laptop and malicious software. Founder Changpeng Zhao thanked US law enforcement for tracking and freezing stolen assets, while President Trump said it remains unclear if North Korea was involved.