Binance covers $6B of $6.3B stolen in hack, FBI links North Korea

Binance has covered $6 billion of the $6.3 billion stolen in a hack, using company funds to buy replacement tokens. The FBI attributed the attack to North Korean state-sponsored unit TraderTraitor. The remaining loss, under 10%, involves less liquid assets that may take longer to source. Binance funded the recovery using its $1 billion SAFU reserve, Futures Insurance Fund, and corporate treasury, with plans to replenish SAFU to about $1 billion. The exchange froze roughly $3 billion of affected assets with industry partners and halted withdrawals after the breach, targeting a Sunday reopening. Binance also published a proof-of-reserves snapshot as of October 31, covering 10 listed tokens at a minimum 1:1 ratio.