{
  "id": 17865035,
  "title": "'Your assets are safe,' Singaporean Richard Teng, Binance co-CEO, assures users after historic $6.3 billion cyber hack",
  "url": "https://urgent.news/2026/11/02/your-assets-are-safe-singaporean-richard-teng-binance-co-ceo-assures",
  "topic": "tech",
  "section": "Tech",
  "published": "2026-11-02T21:00:19.000Z",
  "source": {
    "name": "The Independent Singapore",
    "slug": "the-independent-singapore",
    "url": "https://theindependent.sg/your-assets-are-safe-singaporean-richard-teng-binance-co-ceo-assures-users-after-historic-6-3-billion-cyber-hack"
  },
  "original_language": "en",
  "account": "Singaporean Richard Teng, co-CEO of Binance, reassured cryptocurrency exchange platform users that their assets remained secure following a massive $6.3 billion (approximately S$8.05 billion) cyber theft on October 29. The incident, deemed the largest crypto theft on record by CNBC, transpired within a mere 20 minutes and was traced back to a compromised DevOps engineer's laptop. This breach enabled the attackers to gain access to a service container where they submitted unauthorized withdrawal transactions. Teng, who assumed leadership after Changpeng Zhao stepped down, clarified that the breach was far from a simple \"one-click\" action. Binance subsequently uncovered four further points of breach. The crypto research firm TRM Labs attributed the incident to North Korea's elite hacking unit. In response to the theft, Binance temporarily halted withdrawals and Teng posted a video on his Instagram account, vowing to cover all hack losses using company funds. He expressed gratitude to users for their patience and affirmed that Binance never utilizes its customers' funds, which were compromised from the company's own hot wallet. Teng also announced that the recovery of stolen funds for users was underway, with Binance possessing over $6.34 billion in company funds to cover the losses.",
  "summary": "SINGAPORE: After hackers stole around US$6.3 billion (approximately S$8.05 billion) from the global cryptocurrency exchange platform Binance on Oct 29, its Singaporean co-CEO, Richard Teng , assured users on the platform that their assets were safe and that every loss would be covered with company money. Mr Teng posted a video on his Instagram account (@tengrich) on Oct 31. CNBC has called the…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 10,
    "also_reported_by": [
      {
        "outlet": "The Sydney Morning Herald",
        "title": "The staggering irony of the Binance hack",
        "url": "https://urgent.news/2026/11/02/the-staggering-irony-of-the-binance-hack-17745987",
        "published": "2026-11-02T04:55:25.000Z"
      },
      {
        "outlet": "The Age",
        "title": "The staggering irony of the Binance hack",
        "url": "https://urgent.news/2026/11/02/the-staggering-irony-of-the-binance-hack",
        "published": "2026-11-02T04:55:25.000Z"
      },
      {
        "outlet": "e27",
        "title": "Binance’s US$6.4B hack was decided in 54 minutes, and the chase isn’t over",
        "url": "https://urgent.news/2026/11/02/binances-us-6-4b-hack-was-decided-in-54-minutes-and-the-chase-isnt",
        "published": "2026-11-02T11:47:19.000Z"
      },
      {
        "outlet": "Japan Times",
        "title": "Binance outflows hit $4.7 billion after record North Korea hack",
        "url": "https://urgent.news/2026/11/02/binance-outflows-hit-4-7-billion-after-record-north-korea-hack",
        "published": "2026-11-02T11:57:00.000Z"
      },
      {
        "outlet": "Moneyweb",
        "title": "Binance outflows reach $4.7bn after North Korea hack",
        "url": "https://urgent.news/2026/11/02/binance-outflows-reach-4-7bn-after-north-korea-hack",
        "published": "2026-11-02T12:08:22.000Z"
      },
      {
        "outlet": "The Block",
        "title": "Bitmine adds 8,573 ETH as Tom Lee flags muted Binance hack reaction",
        "url": "https://urgent.news/2026/11/02/bitmine-adds-8-573-eth-as-tom-lee-flags-muted-binance-hack-reaction",
        "published": "2026-11-02T14:40:53.000Z"
      },
      {
        "outlet": "Bangkok Post Business",
        "title": "Binance hack renews digital-asset security concerns",
        "url": "https://urgent.news/2026/11/02/binance-hack-renews-digital-asset-security-concerns",
        "published": "2026-11-02T22:07:00.000Z"
      },
      {
        "outlet": "Cointelegraph",
        "title": "North Korea denies role in $6.3B Binance hack, points finger at US",
        "url": "https://urgent.news/2026/11/02/north-korea-denies-role-in-6-3b-binance-hack-points-finger-at-us",
        "published": "2026-11-02T23:07:07.000Z"
      },
      {
        "outlet": "Free Malaysia Today",
        "title": "N. Korea slams FBI allegations over Binance hack as ‘grave’ provocation",
        "url": "https://urgent.news/2026/11/02/n-korea-slams-fbi-allegations-over-binance-hack-as-grave-provocation",
        "published": "2026-11-02T23:37:04.000Z"
      }
    ]
  },
  "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."
}