Binance says it has covered 90% of its hack losses, having set aside $6.34B+ of company funds; the remaining 10% is in less liquid tokens (Angela Christy/Reuters)
Cryptocurrency exchange Binance said on Saturday that it was able to cover 90% of the amount stolen during its recent hack.
Binance announced on Saturday that it has replenished approximately 90% of the assets stolen during a recent hack. According to Reuters, the company has set aside more than $6.34 billion in company funds to cover these losses, with the remaining 10% held in less liquid tokens.
TechRadar reports that the theft involved $6.36 billion in cryptocurrency taken from the exchange within 20 minutes. While security analysts have attributed the heist to North Korea's TraderTraitor hacking group, TechRadar notes that early reports suggesting a compromised employee laptop may only explain the start of the attack rather than how the full amount was accessed.
Brief written by urgent.news from Techmeme, Sky News, Sky News Tech, CoinDesk, TechRadar — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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- Why North Korea's 'elite' hackers are the prime suspect in major Binance hack bbc.co.uk
- Binance covers 90 per cent of assets stolen in $6.3 billion hack thenationalnews.com
- Binance replenishes 90% of assets stolen in record hack straitstimes.com
- Binance says 90% of $6.3 billion hack losses are now covered, plans to resume withdrawals Sunday cnbc.com
- Binance says 90% of assets stolen in record hack have been replenished business-standard.com
