Binance replaces 90% of $6.3 billion stolen in hack FBI links to North Korea

Binance has replaced 90% of the $6.3 billion stolen in a record hack, using company funds to buy new tokens, and pledged to cover the rest so users face no financial loss. The FBI attributed the attack to North Korean state-sponsored unit TraderTraitor. The FBI said TraderTraitor members were observed converting stolen assets into ethereum and expects further laundering. Binance co-CEO Richard Teng confirmed the replenishment on X, noting the remaining 10% involves less liquid tokens that may take longer to purchase. The exchange halted withdrawals after the breach but plans to reopen them on Sunday. The hack involved a compromised laptop and malicious software designed to erase evidence, making tracing difficult. Binance allocated $6.34 billion internally, drawing from its Secure Asset Fund for Users, Futures Insurance Fund, and corporate treasury. It also took a proof-of-reserves snapshot as of Oct. 31 to verify asset backing.