Binance recovers 90% of stolen funds after record crypto heist

Binance says it has recovered 90 percent of the stolen funds from this week's record cryptocurrency heist, covering the loss with its own money. The stolen assets were valued at approximately $6.3 billion, and the company stated on X that it is working to restore the exchange's total value. The largest cryptocurrencies have been returned, with the remaining ten percent consisting of smaller currencies. Binance emphasized that users will not bear the loss, and plans to reopen withdrawals on Sunday. The theft, which occurred Thursday, is the largest in crypto history, surpassing a $1.5 billion North Korean-linked heist from Bybit in February 2025. Initial investigations suggest the breach began with a hacked employee laptop, and US analysts TRM Labs and Chainalysis attribute the attack to North Korean hackers, who allegedly drained wallets across ten blockchains in 20 minutes. North Korea denies involvement.