{
  "id": 17487927,
  "title": "Binance says it has covered 90% of losses from $6.3 billion hack",
  "url": "https://urgent.news/2026/10/31/binance-says-it-has-covered-90-of-losses-from-6-3-billion-hack-17487927",
  "topic": "tech",
  "section": "Tech",
  "published": "2026-10-31T21:01:00.000Z",
  "source": {
    "name": "CNA - Business",
    "slug": "cna-business",
    "url": "https://www.channelnewsasia.com/business/binance-covers-90-cent-losses-6510271"
  },
  "original_language": "en",
  "account": "The FBI has identified North Korea's state-sponsored unit, TraderTraitor, as the perpetrator behind a massive hack that stole over $6.3 billion from the crypto exchange Binance. To cover the losses, Binance has managed to replace 90% of the stolen assets using company funds to purchase new tokens. The remaining 10% consists of less liquid tokens, which may take longer to acquire. Binance's co-CEO, Richard Teng, reassured users that their funds would not bear the financial impact of the incident. The breach involved a compromised laptop and malicious software designed to erase evidence, making it challenging to trace and investigate. Binance has set aside around $6.34 billion in company funds to cover the losses, using part of its Secure Asset Fund for Users, a bitcoin reserve, and other funds to re-buy the stolen tokens. Users holding 10 listed tokens can verify that their assets have been backed at a minimum 1:1 ratio.",
  "summary": "The FBI on Saturday said the North Korean state-sponsored unit known as TraderTraitor was responsible for the attack.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "TechRadar",
        "title": "The $6.3bn Binance hack explained — 5 things you need to know",
        "url": "https://urgent.news/2026/10/31/the-6-3bn-binance-hack-explained-5-things-you-need-to-know",
        "published": "2026-10-31T09:00:00.000Z"
      },
      {
        "outlet": "The Hill",
        "title": "Binance recovers 90 percent of stolen assets from hack",
        "url": "https://urgent.news/2026/10/31/binance-recovers-90-percent-of-stolen-assets-from-hack",
        "published": "2026-10-31T19:08:38.000Z"
      },
      {
        "outlet": "Free Malaysia Today",
        "title": "Binance says has covered 90% of US$6.3bil hack losses",
        "url": "https://urgent.news/2026/10/31/binance-says-has-covered-90-of-us-6-3bil-hack-losses",
        "published": "2026-10-31T23:10:41.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}