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 replace tokens, with the remaining amount under 10% consisting of less liquid assets. The FBI attributed the attack to North Korean state-sponsored unit TraderTraitor, which converted stolen assets into ethereum. Binance froze about $3 billion with industry partners and used its SAFU fund, Futures Insurance Fund, and corporate treasury for reimbursement. Binance halted withdrawals after the breach but planned to reopen them on Sunday. The exchange set aside $6.34 billion internally and announced a proof-of-reserves snapshot for 10 tokens to verify 1:1 backing.