Binance covers 90% of $6.3 billion hack losses, targets Sunday withdrawals
What's next: The exchange is using treasury and insurance funds to replace the rest as investigators trace a theft tied by analysts to North Korea.
Binance said it has replaced about 90% of the $6.3 billion in crypto assets stolen in what researchers describe as the largest digital-asset theft on record, and it is aiming to reopen withdrawals on Sunday after security checks. The exchange said bitcoin, ether, Tether, BNB and several other major tokens are now fully backed, while the remaining 10% consists of less-liquid assets that may take longer to source. Binance said it is drawing on its Secure Asset Fund for Users, part of its futures insurance fund and corporate treasury to make customers whole. The company has also frozen about $3 billion of stolen assets with help from partners and investigators. TRM Labs and Elliptic have pointed to North Korean hackers, though Binance has not named a culprit.