Binance recovers 90 percent of stolen assets from hack

Cryptocurrency exchange Binance said Saturday that it was able to replenish 90 percent of the stolen assets ‌after a $6.3 billion hack of its platform.

On Thursday, the money started moving out of Binance wallets, prompting the company to suspend all deposits and withdrawals. Some cryptocurrency firms froze around $3 billion in assets in connection with the incident.

“All BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC are fully backed 100%,” the company said in post on social platform X on Saturday. “We will continue to buy the remaining relevant token assets through market and OTC channels until the covered amount reaches 100% for all tokens.”

The company also said it will absorb the financial impact of the stolen funds, not the users. In a previous update , Binance said it had set aside $6.34B in company funds to cover hacked losses.

President Trump said Friday that the administration is looking into the incident. When asked if the hack should be attributed to a suspected North Korean hacker group, the president said, “we don’t know.”

According to two blockchain intelligence firms, TRM Labs and Chainalysis, a North Korea-based cybercrime group TraderTraitor appeared to be behind the hacking incident. TRM Labs also noted that several aspects of the latest hack matched earlier North Korea-linked incidents like the $1.5 billion hack of crypto exchange Bybit last year.

In its Saturday update, Binance said after the 90 percent replenishment, the remaining 10 percent consists of “assets are less liquid, which means they may take longer to source in the required amounts.”

The company said the replenishment came from a partial deployment of the Secure Asset Fund for Users (SAFU), a portion of its Futures insurance fund and as well as Binance’s corporate treasury.