Binance announced on Saturday that it has successfully covered up to 90% of the approximately $6.3 billion in token assets stolen from its hot wallets during a record-breaking crypto theft initially revealed on Thursday. Meanwhile, the Federal Bureau of Investigation stated late Saturday that North Korea orchestrated the massive cyberattack.
Asset Recovery and User Protection
The cryptocurrency exchange stated that it will keep purchasing the remaining affected token assets through both open markets and over-the-counter channels until complete 100% coverage is achieved for every single token. According to the company’s official statement, major holdings including BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC are now completely backed. Furthermore, leadership emphasized that the corporation will shoulder the entire financial burden rather than passing any losses to its customers.
Addressing the remaining deficit, the platform explained that the outstanding 10% comprises less liquid tokens outside of its top ten holdings, which require additional time to acquire in the necessary quantities. To replenish these digital assets, the organization is drawing resources from its Secure Asset Fund for Users, a segment of its Futures insurance fund, and its own corporate treasury. Company representatives reiterated their dedication to transparency, measurable progress, and concrete actions to address the fallout from the breach.
Resumption of Services
The exchange reported that its upcoming operational milestone involves restoring user withdrawal services by Sunday, pending final security validations. Concurrently, technical teams are pressing ahead with an ongoing internal investigation into how the security perimeter was breached.
