Binance restores 90% of funds after $6.3 billion hack, withdrawals to resume Sunday

Binance announced Saturday it has restored backing for 90% of the $6.3 billion in assets stolen in a record crypto hack, with plans to resume withdrawals by Sunday pending security checks. The exchange said it will absorb the financial impact, using its Secure Asset Fund for Users, Futures insurance fund, and corporate treasury to cover losses. All top-ten tokens are fully backed, while the remaining 10% are less liquid assets requiring more time to source. The attack's method remains unclear, though Binance initially cited a compromised DevOps laptop before Co-CEO Richard Teng described a more complex process. Blockchain intelligence firm TRM Labs suggested North Korean hackers may be responsible, citing similarities to previous heists.