Binance Recovers 90% of Assets Following Record $6.3 Billion Hack

OPA WIRE, Nov 1 (OPA) — Binance, the world’s largest cryptocurrency exchange, confirmed Sunday that it has successfully covered 90% of the $6.3 billion stolen in what is now considered the largest digital asset heist in history. The company, which previously pledged to absorb all losses, has allocated over $6.34 billion in internal funds to replenish user accounts. Withdrawals, which were suspended immediately following the incident, have been partially restored across several networks.

The Federal Bureau of Investigation identified North Korea as the party responsible for the attack. According to federal investigators, the hackers have been observed converting stolen assets into Ethereum, with plans to further obfuscate the funds through decentralized finance and instant swap services. Two independent analytics firms have linked the breach to the Lazarus Group, a state-backed hacking unit also known as TraderTraitor.

Binance co-chief executive officer Richard Teng stated that the operation involved multiple actors utilizing sophisticated methods, including a self-destruct mechanism to mask their digital footprint. While initial reports suggested a single compromised engineer’s laptop, the company later confirmed that investigators uncovered multiple points of breach. The exchange has successfully frozen approximately $3 billion in stolen assets through collaborative efforts with law enforcement and private intelligence partners.

The ongoing investigation remains a priority for federal authorities, with the US Secret Service confirming it is working with private sector partners to trace and recover the remaining funds. Binance continues to work toward sourcing the final 10% of the stolen capital. This event surpasses the previous record for a crypto heist, which occurred in 2025 when $1.5 billion was stolen from the Bybit exchange, an attack also attributed to North Korean actors by the FBI.