Binance says it covered 90% of cyberattack losses as FBI links theft to North Korea

Cryptocurrency platform Binance has said it has used company money to buy tokens to replenish 90 percent of $6.3 billion stolen in a huge hacking attack, as the FBI links the theft to North Korea.

"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 percent 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.

Binance said Friday it was working to resolve what it called a "complex attack" with several "points of breach."

North Korea link

Later on Saturday, the FBI said that North Korea was behind the theft.

"The Democratic People's Republic of Korea (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 US law enforcement agency said in a statement.

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 on Sunday.

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

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Source: TRT