Binance says it has replaced 90% of the $6.3bn (£4.7bn) stolen in a hack on Thursday. The exchange said yesterday that the remaining 10% may take longer to source in the required amounts.
The FBI has blamed North Korea for the attack, while President Donald Trump says the US does not yet know who is responsible.
Binance says users will not bear the loss
Binance has consistently pledged to cover 100% of the losses and says it has set aside more than $6.34bn of company funds to do so. In its statement, it said it had replenished the stolen assets from various funds and its own corporate treasury.
All holdings of bitcoin, Ethereum and Tether, a widely traded stablecoin, are covered, along with seven other widely traded crypto assets.
“Binance will absorb the financial impact of these stolen funds, not our users,” the company said, according to the BBC.
In an update today, Binance said withdrawals, suspended after the hack, had been restored on several of its networks. It had earlier said they would resume in phases.
FBI points to North Korea; Trump is unsure
The FBI said yesterday that North Korea was responsible. It said it had seen the hackers converting stolen assets into Ethereum and expects them to be converted again using decentralised finance, meaning crypto services without a central intermediary, and instant swap services, which are tools that quickly exchange one crypto for another.
The bureau specifically named TraderTraitor, a North Korean state-backed hacking unit also known as the Lazarus Group.
Two analytics firms had previously told the BBC they had robust intelligence pointing to the Lazarus Group as the likely culprits.
Mr Trump struck a more cautious note when speaking to reporters on Saturday night. “We’re learning about it. We don’t know if it’s North Korea – but if it is, we’ll talk to North Korea about it,” the US President said.
The BBC reports the attack is believed to be the largest in history. It eclipses the $1.5bn heist at the crypto exchange Bybit in 2025, which the FBI also blamed on North Korea. The BBC reports that North Korea has always denied involvement in such attacks.