Binance restores 90% of the US$ 6.3 billion stolen and FBI points to North Korea as responsible
The biggest hack ever recorded in the sector leads the exchange to use its own resources and various funds to cover losses, and withdrawals are once again released on various networks.
BY THE X-TRADER NEWS NEWSROOM · REPORTING FROM BBC BUSINESS · 2 MIN
Binance claimed to have recovered around 90% of the US$6.3 billion stolen in a hacker attack that occurred on Thursday, according to BBC Business, and declared a goal of covering 100% of the losses. The episode is the biggest robbery in the history of the cryptoactive sector, surpassing Bybit's embezzlement of US$1.5 billion in 2025.
According to BBC Business, the broker set aside more than US$6.34 billion in funds, with various resources and corporate treasury resources, to cover bitcoin, ethereum, tether and seven other crypto assets. InfoMoney reported that, on Saturday (31), Binance said it had recovered around 90% of the value, compared to 80% before, and that it was absorbing the financial impact, not the users. Exame reported that the replacement uses the company's own resources.
The FBI concluded on Saturday that North Korea was responsible for the attack. According to the agency, hackers converted the assets into ethereum and are expected to repeat the conversion through decentralized finance (DeFi) and instant exchange services. Two analysis companies named Lazarus Group and TraderTraitor as likely perpetrators, and the agency had already attributed North Korea to the Bybit theft.
The initial investigation identified the compromise of an engineer's laptop, and an update indicated other points of breach. Richard Teng, co-CEO of Binance, stated that more than one person participated in the attack and that there is a self-destruct mechanism to hide traces. On Friday, the exchange froze about $3 billion, and the U.S. Secret Service works with private partners to freeze, track and recover funds.
Withdrawals were suspended and, on Sunday (1st), restored on several networks. An Investing.com headline indicated that the recovery depended on the recovery of much of the US$6 billion. The case exposes a central point in the sector: when the platform stores assets, the client depends on its security and solvency.
What changes for the investor
The main effect for those who invest and operate is counterparty risk. Those who hold assets on an exchange depend on the platform's ability to protect them, and replenishing them with their own resources weighs on trust, but does not eliminate this dependence. Attributing the attack to a State also tends to increase the attention of regulators on the issue. The facts gathered do not allow us to predict the behavior of prices, but it is worth monitoring whether withdrawals continue normally and whether the recovery of frozen funds progresses.
Automatically translated from Portuguese.
