Binance Covers 90% of Assets Stolen in Recent Hack

Binance, the world's largest cryptocurrency exchange, has announced that it has covered 90% of the $6.3bn worth of assets stolen in a recent hack.

The remaining 10% may take longer to source, according to the company. Binance had previously pledged to cover 100% of the losses from what is believed to be crypto's biggest hack on record.

To fulfill this promise, Binance has set aside over $6.34bn in company funds. This move aims to protect users from financial impact and alleviate concerns about their assets being lost due to the cyber attack.

Withdrawals have been restored on several of its networks after being suspended following the hack, with the company stating that they would be resumed in phases.

The cryptocurrency firm Binance has confirmed that it has replenished nearly 90% of the stolen assets after being hacked for $6.3bn.

Binance's own corporate treasury and various funds were used to cover the losses, which include all holdings of widely-traded cryptocurrencies such as bitcoin, Ethereum, Tether, and seven other digital assets. The company did not specify how much was returned or what percentage of the total losses remain uncovered.

The hack is believed to be one of the largest in history, surpassing a previous record of $1.5bn on the Bybit exchange in 2025, for which North Korea was also implicated by the FBI.

Binance's investigation into the breach has revealed that sophisticated methods were used by the hackers, including a "self-destruct mechanism" to cover their tracks.

Binance has managed to freeze approximately $3 billion worth of assets stolen during the recent hack, following a collaborative effort with law enforcement agencies and private sector partners.

The US Secret Service is actively working to identify, freeze, trace, and recover the funds stolen from Binance, with the agency stating it is working around the clock on the matter. This operation underscores the severity of the breach and the determination of authorities to bring those responsible to justice.

As a result of the hack, Binance has been forced to absorb significant losses, but the company's efforts so far have helped mitigate the damage. Despite the challenges posed by sophisticated hacking methods used in the breach, including a self-destruct mechanism, authorities remain committed to recovering the stolen funds.