Binance recovers $6 billion of $6.3 billion stolen in hack

Binance has covered $6 billion of the $6.3 billion stolen in a hack, using company funds to repurchase replacement tokens, following an attack the FBI attributes to North Korean state-backed unit TraderTraitor. The FBI stated TraderTraitor was responsible, noting members converted stolen assets into ethereum and expected further laundering. Binance said less than 10% of funds remain, consisting of less liquid assets, and is working with partners to freeze assets, with about $3 billion located by Friday. Binance used $1 billion from its Secure Asset Fund for Users, part of its Futures Insurance Fund, and corporate treasury to cover losses. Co-CEO Yi He said 50% of SAFU funds were used, with plans to replenish it to roughly $1 billion. Withdrawals remained suspended as of Sunday morning.