Binance has covered 90% of the $6.3bn in assets stolen in a hack on Thursday, the world's largest cryptocurrency exchange said on Saturday. The company pledged to cover the remaining 10%, though it said this portion may take longer to source.
Binance set aside more than $6.34bn in company funds to absorb the full loss. The company replenished stolen assets using various funds and its corporate treasury. All holdings of bitcoin, ethereum, Tether and seven other widely-traded cryptocurrencies are now covered.
The hack is believed to be the largest in crypto history, surpassing a $1.5bn theft from Bybit in 2025. Binance's investigation found an engineer's laptop was compromised, allowing unauthorized withdrawals, but the company later discovered "additional points of breach." Richard Teng, Binance's co-chief executive, said the hackers were multiple people who used sophisticated methods including a "self-destruct mechanism" to hide their tracks.
Binance froze around $3bn of stolen assets after working with law enforcement and intelligence firms. The US Secret Service said it is "working around the clock" with private sector partners to identify, freeze, trace and recover the funds.
Two blockchain analytics firms say their intelligence points to The Lazarus Group, a North Korean state-backed group, as the likely culprits. The FBI previously attributed the $1.5bn Bybit theft to North Korea. North Korea has denied involvement in these attacks.
Binance said it remained on track to reopen withdrawal services on Sunday, November 1.