Binance says it has covered 90% of assets lost in $6.3bn hack
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Binance, the world’s largest cryptocurrency exchange, says it has replenished 90% of the $6.3bn (£4.7bn) stolen in Thursday’s hack and set aside more than $6.34bn to cover 100% of losses so users do not pay. The remaining 10% may take longer to source. Withdrawals are on track to reopen on Sunday 1 November. The breach eclipses the prior $1.5bn Bybit heist in 2025 as crypto’s largest; two analytics firms point to a North Korean state-backed group, while Binance cited a compromised engineer laptop and additional breach points. Co-CEO Richard Teng commented on the investigation.
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