{
  "id": 17511179,
  "title": "Binance Replenishes 90% of Stolen $6.3B, Pledges They'll Cover It All, Reopen Sunday",
  "url": "https://urgent.news/2026/11/01/binance-replenishes-90-of-stolen-6-3b-pledges-theyll-cover-it-all",
  "topic": "tech",
  "section": "Tech",
  "published": "2026-11-01T01:34:00.000Z",
  "source": {
    "name": "Slashdot",
    "slug": "slashdot",
    "url": "https://news.slashdot.org/story/26/11/01/0129237/binance-replenishes-90-of-stolen-63b-pledges-theyll-cover-it-all-reopen-sunday"
  },
  "original_language": "en",
  "account": "Binance has restored 90% of the $6.3 billion stolen in its recent hack, according to a statement from co-CEO Richard Teng on X. The remaining 10% of stolen funds are less liquid, which may take longer to replace, the exchange said in a post on X. Binance has set aside around $6.34 billion internally to cover the losses, drawn from various funds, including its Secure Asset Fund for Users and other reserves. The FBI attributes the hack to a North Korea-sponsored group called TraderTraitor, who converted the stolen assets into Ethereum and are expected to launder the assets further. Binance initially suspected a compromised employee's laptop, but later revealed the attack was more sophisticated than that. The incident involved about 100 top executives working late to contain the breach, with the news spreading rapidly on the blockchain. North Korea has a history of targeting crypto companies to fund its nuclear program, and the attackers employed innovative laundering techniques. In response, Tether and Circle froze over $2 billion in seized coins, but $2.4 billion remains beyond issuers' reach. President Trump expressed some concern about the breach, stating that Binance seems to have it under control for now.",
  "summary": "\"We've now replenished 90% of the stolen assets, and we're committed to covering the remaining 10%,\" Binance co-CEO Richard Teng posted on X, adding that \"Our users will not bear the financial impact of this incident.\" \"Binance said it was able to replace the funds taken in the record hack by using company money to buy new tokens,\" reports NBC News: The remaining 10% consists of tokens that are…",
  "key_points": [
    "Binance restores 90% of $6.3B stolen in hack, pledges to cover all",
    "Remaining 10% less liquid, replacement may take longer",
    "FBI links hack to North Korea-sponsored TraderTraitor group"
  ],
  "editors_take": "Deploying massive internal reserves to cover the breach signals a shift toward exchanges acting as their own insurers against increasingly sophisticated state-sponsored cyberattacks.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "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."
}