Binance, the world's largest cryptocurrency exchange, stated that it has recovered 90% of the $6.3 billion (£4.7 billion) in assets that were stolen in the hacker attack on Thursday.
The company added that it may take longer to raise the remaining 10% of the funds in the required amount.
Binance had previously promised to bear 100% of the losses caused by what is suspected to be the largest hacking incident in the history of the cryptocurrency industry, and stated that it had allocated over $6.34 billion of company funds for compensation.
In a statement on Saturday, Binance stated: 'The financial impact of these stolen funds will be borne by Binance, not by our users.'
The company stated that it has replenished the relevant assets through various sources of funding as well as its own capital pool.
Binance stated that all positions in Bitcoin, Ethereum, and Tether have been covered, and an additional 7 actively traded crypto assets have also been covered.
The company stated that its next goal is to restore the user withdrawal service and mentioned that it still plans to reopen withdrawals on Sunday, November 1st, as scheduled; further updates will be provided once the details are confirmed.
This hacking incident is considered to be the largest in history, surpassing the record of the $1.5 billion theft from the Bybit exchange in 2025.
An initial investigation by Binance revealed that a engineer's laptop had been compromised, which led to unauthorized withdrawals; however, the company later updated its statement, stating that it had discovered "more compromised links."
Anchorage Co-CEO Richard Teng stated that this attack was carried out by more than one person, and the hackers also used sophisticated methods to cover their tracks, such as a "self-destruction mechanism."
The company stated on Friday that, in collaboration with law enforcement agencies, intelligence firms, and partners, it has frozen approximately $3 billion in stolen assets.
Binance also added that the investigation is still ongoing. On Friday, the United States Secret Service stated that they are working around the clock with private sector partners to “identify, freeze, track, and recover” the funds stolen from Binance.
Two large blockchain analytics companies claim to have obtained substantial intelligence pointing to the North Korean-backed organization “Lazarus Group” ( The Lazarus Group ), also known as TraderTraitor , which may be the behind-the-scenes mastermind.
The Federal Bureau of Investigation (FBI) stated that North Korea should be held responsible for the theft of $1.5 billion from a exchange last year.
North Korea has always denied involvement in these attacks.
Binance was founded in China in 2017 and allows users to buy, sell, and trade digital assets. It is estimated that it has hundreds of millions of users worldwide.
Cryptocurrency is a type of digital asset that does not exist in physical form; instead, it is accessed through digital wallets or computers.
