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Binance says it covered most of $6.3 billion theft, restarts withdrawals

Binance said it had replaced 90 then 95 percent of about $6.3 billion stolen Thursday and would reopen withdrawals in phases Sunday, as the FBI named North Korea's TraderTraitor group.

What's new
  1. New headline Was: “Binance says it covered 90% of losses after $6.3 billion hack”
  2. Our desk updated its story
  3. Our desk updated its story
  4. Dawn and The National are now reporting this
  5. New headline Was: “Binance says it covered 90% of losses after $6.3 billion hack”
15 earlier updates
  1. Our desk updated its story
  2. Our desk filed its story
  3. Still developing
  4. New headline Was: “Binance says it covered 90% of losses after $6.3 billion hack”
  5. BBC and TechCrunch are now reporting this
  6. New headline Was: “FBI Links North Korea's TraderTraitor to Record $6.43 Billion Binance Crypto Heist”
  7. Our desk filed its story
  8. Still developing
  9. New headline Was: “FBI blames North Korea for record $6.3bn crypto heist from Binance”
  10. Al Jazeera, The Hacker News and Reuters are now reporting this
  11. New headline Was: “Hackers steal $6.3 billion from Binance in record crypto heist”
  12. New headline Was: “Binance hack: Investigators in a 'cat and mouse game' to recover $6.3 billion in stolen funds”
  13. New headline Was: “Hackers steal $6.3 billion from Binance in record crypto heist”
  14. CNBC is now reporting this
  15. New headline Was: “Binance says $6.3 billion stolen in crypto hack, pledges to cover losses”

Binance said it had replaced most of about $6.3 billion in tokens taken in a Thursday theft and would restart withdrawals in phases on Sunday, BBC, Al Jazeera and Dawn reported1,2,5. Dawn said the company later put the replaced share at 95 percent, or about $6 billion, with a first window from 0600 to 0900 GMT covering 15 assets including bitcoin and ether5.

On Saturday the exchange had said 90 percent of the stolen assets were covered and that the rest were less liquid tokens that may take longer to buy1,2. Binance said it would absorb the financial impact rather than pass it to users1,2. Al Jazeera and Dawn said replacements came from a Secure Asset Fund for Users, a futures insurance fund and the corporate treasury2,5. The Verge reported the company had reserved more than $6.34 billion4. Co-chief executive Yi He said 50 percent of the SAFU would be used and that Binance would replenish that fund, Dawn reported5.

The FBI said Saturday that North Korean actors linked to a group called TraderTraitor were converting stolen assets mainly into ether and asked virtual-asset firms to block listed addresses2. TechCrunch and The Verge said TRM Labs, Elliptic and Chainalysis had already attributed the theft to that group3,4. BBC said President Donald Trump told reporters Saturday the United States was still unsure who was responsible1. BBC also noted North Korea has denied involvement in such attacks1.

Binance has said an engineer's laptop was compromised and later that investigators found additional points of breach1,3,4. Co-chief executive Richard Teng described a complex attack involving more than one person and software meant to hide tracks1,2,4. The company said it found no evidence that wallet private keys leaked3,4. About $3 billion in stolen assets were frozen with partners, Binance said Friday1,3,4,5. The U.S. Secret Service said it was working with private partners to identify, freeze, trace and recover funds1.

Sources

  1. BBCCrypto firm Binance covers 90% of losses after $6.3bn hack
  2. Al JazeeraFBI blames North Korea for record $6.3bn crypto heist
  3. TechCrunchNorth Korean hackers blamed for stealing record $6.3B in Binance breach
  4. The VergeBinance hackers stole $6.3 billion in record-breaking crypto heist
  5. DawnBinance to resume withdrawals after covering bulk of stolen $6.3bn

How it’s being reported

5 sources

First reported by The VergeThe Verge

BBCAl JazeeraTechCrunchThe VergeDawn

Where they agree

  • About $6.3 billion was stolen from Binance.
  • Binance pledged to cover user losses and reported 90% then 95% replaced.
  • Blockchain firms and the FBI linked the attack to TraderTraitor.

Where they differ

Whether North Korea is confirmed as the attacker

Side by side

Each outlet's article broken down by our newsroom, in our own words. To read what they wrote, use the button under each one.

BBC

Crypto firm Binance covers 90% of losses after $6.3bn hack

90% reimbursement and conflicting public statements on attribution

Binance said Saturday it had covered 90% of stolen assets from company funds; FBI named North Korea, while Trump said the U.S. was unsure. BBC News

Leaves out Sunday 95% figure and timed first-phase window

90% reimbursement and conflicting public statements on attribution

What it reports

  • Remaining 10% may take longer to source
  • Trump said the U.S. did not know if it was North Korea
  • Secret Service said it was working to freeze and recover funds

Leaves out Sunday 95% figure and timed first-phase window

Al JazeeraAl Jazeera

FBI blames North Korea for record $6.3bn crypto heist

FBI attribution, Ethereum conversion, and listed addresses

FBI blamed TraderTraitor and said stolen assets were being converted mainly into Ethereum; Binance said 90% of tokens were replaced.

Leaves out Sunday 95% update and Trump comments

FBI attribution, Ethereum conversion, and listed addresses

What it reports

  • FBI named TraderTraitor, also blamed for the 2025 Bybit theft
  • Agency said actors were converting stolen assets mainly into Ethereum
  • Binance said remaining 10% are less liquid tokens
  • Replacements came from SAFU, futures insurance and treasury
  • Proof-of-reserves snapshot published

Leaves out Sunday 95% update and Trump comments

TechCrunchTechCrunch

North Korean hackers blamed for stealing record $6.3B in Binance breach

Attack path through a DevOps laptop and blockchain-firm attribution

TRM Labs and Elliptic attributed the theft to TraderTraitor; Binance described a compromised engineer laptop and unauthorized withdrawals.

Leaves out Saturday-Sunday reimbursement percentages

Attack path through a DevOps laptop and blockchain-firm attribution

What it reports

  • Company said it found no evidence of a private-key leak
  • About $3 billion frozen by industry partners
  • TRM said most of the theft occurred in about 20 minutes

Leaves out Saturday-Sunday reimbursement percentages

The VergeThe Verge

Binance hackers stole $6.3 billion in record-breaking crypto heist

Frozen assets, reserve pledge, and later finding additional breach points

34 billion; Teng said the attack was not a one-click action. — The Verge

Binance froze about $3 billion and reserved more than $6.34 billion; Teng said the attack was not a one-click action.

Leaves out FBI Saturday statement and 95% cover

Frozen assets, reserve pledge, and later finding additional breach points

What it reports

  • About $3 billion of stolen assets frozen
  • Company reserved over $6.34 billion
  • Further investigation found additional points of breach
  • Chainalysis and TRM attributed the attack to TraderTraitor

Leaves out FBI Saturday statement and 95% cover

DawnDawn

Binance to resume withdrawals after covering bulk of stolen $6.3bn

95% cover and timed first-phase withdrawals

Binance said it would resume withdrawals Sunday after covering 95% of $6.3bn, with a first phase from 0600-0900 GMT.

Leaves out Secret Service comment

95% cover and timed first-phase withdrawals

What it reports

  • Binance said it had covered $6bn, or 95%, of stolen tokens
  • First-phase withdrawals 0600-0900 GMT covering 15 assets
  • Yi He said 50% of SAFU would be used and the fund replenished
  • About $3bn located as of Friday

Leaves out Secret Service comment