Binance bounces back after $6.3 billion hack losses blamed by FBI on North Korea

New York, New York - Cryptocurrency platform Binance said Saturday it has used company money to buy tokens to replenish 90% of the $6.3 billion stolen in a huge hacking attack that the FBI said North Korea was behind.

Binance logo seen behind stacks of coins. The cryptocurrency platform says it has replenished 90% of the $6.3 billion stolen in a massive hacking attack.
Binance logo seen behind stacks of coins. The cryptocurrency platform says it has replenished 90% of the $6.3 billion stolen in a massive hacking attack.  © JUSTIN SULLIVAN / GETTY IMAGES NORTH AMERICA / AFP

"Our commitment remains the same: Binance will fully cover the financial impact of the funds stolen in this incident," the company said on X.

Binance, the world's largest crypto exchange by daily trading volumes, said the remaining 10% of tokens are "less liquid, which means they may take longer to source in the required amounts."

The company said it has set aside more than $6.34 billion in company funds to cover losses in the hack.

Crypto platform Binance hacked in what could be biggest-ever cyberattack of its kind
Finance Crypto platform Binance hacked in what could be biggest-ever cyberattack of its kind

Also on Saturday, the FBI said it was "advising" that North Korea "was responsible for the theft of more than $6 billion USD in virtual assets from cryptocurrency exchange Binance, on or about October 29, 2026.The FBI refers to this specific North Korean malicious cyber activity as 'TraderTraitor.'"

The FBI added, "Together with partners at the USSS and IRS-CI, has observed TraderTraitor actors converting stolen assets primarily into Ethereum (ETH). It is expected these assets will then be further laundered by converting them using DeFi and instant swap services as they prepare them for further laundering stages."

Binance said Friday it was working to resolve what it called a "complex attack" with several "points of breach." Investigators pointed to hackers linked to North Korea as being responsible.

The prices of most major cryptocurrencies fell on news of the cyberattack.

Binance suspended user withdrawals after the incident, but said in its latest update they were on track to resume Sunday.

The attack on Binance came as many observers express worries that the ever-expanding capabilities of artificial intelligence models could compromise cryptography and IT security protocols.

President Donald Trump said Friday that the US was looking into the hack, and the FBI said it was "engaged with relevant public and private partners to understand the scope of the activity" and was ready to investigate.

Cover photo: JUSTIN SULLIVAN / GETTY IMAGES NORTH AMERICA / AFP

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