Majority of Funds Stolen in Cryptocurrency Hack Replenished, Binance Says
Binance, one of the world's largest cryptocurrency exchanges, has announced that around 90% of the funds stolen in a recent hack have been replenished. The security exploit, described as one of the "biggest bank heists in human history," targeted the platform in August, resulting in the theft of over $6.3 billion worth of cryptocurrency.
According to a statement released by Binance on Saturday, the remaining 10% of the stolen assets consists of tokens that are less liquid and may take longer to recover. The company has assured users that it will absorb the financial impact of the stolen funds and not pass it on to them. Deposits and withdrawals were suspended for customers following the hack, but Binance claims to be on track to reopen withdrawal services by Sunday.
The hack, which occurred on August 2026, saw the attacker move billions of dollars across eight blockchain networks in just 15 minutes. The incident has been linked to the elite North Korean hacking unit, the TraderTraitor group, by the FBI. The attacker is believed to have prepared for the theft for at least 36 hours before it took place.
Ari Redbord, chief policy officer of TRM Labs, described the hack as "an extraordinary theft, for its size and for the response." He noted that the attacker's ability to move funds at such speed highlights the vulnerability of the system to sophisticated attackers.
Binance has assured users that their funds are safe and that all hacking losses will be covered. The company has also set up the Secure Asset Fund for Users (SAFU) to protect user assets in extreme cases, including security breaches or platform-level incidents.
