Binance said on Saturday that it has replaced 90% of the crypto stolen in a record $6.3 billion hack, using company funds to buy new tokens.
The remaining 10% consists of less liquid tokens that may take longer to buy, the exchange said in a statement on X.
Co-CEO Richard Teng said on X, “Our users will not bear the financial impact of this incident.”
Binance SAFU Fund, Corporate Treasury Covers Losses
The world’s biggest cryptocurrency exchange set aside about $6.34 billion in company funds, it said.
The money came from part of its $1 billion Secure Asset Fund for Users (SAFU), some of its Futures Insurance Fund and its corporate treasury.
Binance Publishes Proof-of-Reserves Snapshot
The exchange also took a new proof-of-reserves snapshot as of 0000 GMT on Saturday.
Holders of 10 listed tokens, including Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), Tether (CRYPTO: USDT), BNB (CRYPTO: BNB), Solana (CRYPTO: SOL), USDC (CRYPTO: USDC) and XRP (CRYPTO: XRP), will be able to verify at least 1:1 backing once the full proof is generated, Binance said.
FBI Blames North Korea Hackers
Separately, the FBI said Saturday that the North Korean state-sponsored unit TraderTraitor was responsible. Agents observed members converting stolen assets into Ethereum, and the bureau expects “further laundering.”
Teng said Friday the breach was a “complex attack” involving a compromised laptop and malware designed to delete evidence.
Blockchain intelligence firms TRM Labs and Chainalysis had earlier said TraderTraitor appeared to be behind the attack. TRM Labs said it matches earlier North Korea-linked thefts, including last year’s $1.5 billion Bybit hack.
Trump Says US Investigating
On Friday, before the FBI’s statement, President Donald Trump said his administration is investigating the hack.
He also added the theft shows the risks of digital assets. “I’ve always felt it was a little bit dangerous,” he said.
Latest Move Follows Teng’s Pledge
The latest development follows Teng’s Friday statement. “I want to be clear, we are committed to covering all hack losses through our company funds. Your assets are safe,” he said in a video on X.
He said Binance never used customer funds. The breach hit only its own hot wallet, an internet-connected wallet used to process withdrawals. Teng called it a “complex attack” involving a compromised laptop and malware designed to delete evidence.
Binance halted withdrawals after the hack but said it is on track to reopen them Sunday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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