Binance Replenishes 90% of Stolen Assets After $6.3B Hack

Binance Replenishes Stolen Assets — Binance has replenished 90% of the assets stolen in last week’s record $6.3 billion hack and remains on track to resume withdrawals on Sunday, the exchange announced Saturday.

The figure is up from 80% reported a day earlier. A spokesperson told Cointelegraph that Binance is absorbing the financial impact using its corporate treasury, a partial deployment of its Secure Asset Fund for Users (SAFU), and a portion of its futures insurance fund, ensuring the fund stays above required risk management levels.

The remaining shortfall consists of less-liquid tokens, which the exchange continues to buy through market and over-the-counter transactions. Binance stated that customer balances in Bitcoin, Ether, and eight other assets are fully backed.

The update follows the largest cryptocurrency hack on record, which blockchain intelligence firm TRM Labs has attributed to North Korea’s TraderTraitor hacker group. Industry partners like Tether and Circle previously froze about $3 billion in affected assets, separate from Binance’s replacement efforts.