{"id":953908,"date":"2026-11-01T03:54:11","date_gmt":"2026-11-01T03:54:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/953908\/"},"modified":"2026-11-01T03:54:11","modified_gmt":"2026-11-01T03:54:11","slug":"binance-says-billions-replaced-from-hack-that-fbi-blames-on-north-korea","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/953908\/","title":{"rendered":"Binance says billions replaced from hack that FBI blames on North Korea"},"content":{"rendered":"

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Estimated 3 minutes<\/p>\n

The audio version of this article is generated by AI-based technology. Mispronunciations can occur. We are working with our partners to continually review and improve the results.<\/p>\n

Crypto exchange Binance said on Saturday it has been able to replace 90 per cent of the amount stolen after a record $6.3-billion US hack of its platform by using company money to buy new tokens.<\/p>\n

The remaining 10 per cent consists \u200cof tokens that are less liquid, meaning they may take longer to buy, it said in a statement posted on X.<\/p>\n

“We’ve now replenished 90 per cent of the stolen assets, and we’re committed to covering the remaining 10 per cent. Our users will \u200bnot bear the financial impact of this incident,” co-CEO Richard \u200bTeng said on X on Saturday.<\/p>\n

Crypto prices fell on Friday, while Binance \u2014 the world’s biggest crypto exchange \u2014 sought to reassure customers that their funds were safe \u200bafter losing more than $6 billion worth of crypto in a hack that \u2060analysts and the FBI \u2060blamed on North Korea.<\/p>\n

The FBI on Saturday \u200csaid the North Korean state-sponsored unit known as TraderTraitor was responsible for the attack. Members of the unit were observed by law enforcement converting stolen assets into the cryptocurrency ethereum, the FBI said in a statement, adding that it expects “further laundering” of \u2060the assets through the use of related technology.<\/p>\n

WATCH | Hackers steal billions from Binance:\"\"<\/p>\n

Hackers steal nearly $6.3B US in crypto<\/p>\n

A U.S.-based blockchain intelligence firm says North Korean hackers were likely behind the theft of $6.3 billion US \u2014 nearly $9 billion Cdn \u2014 on Binance, the world’s largest cryptocurrency exchange. The cryptocurrency exchange said that deposits were unaffected following the ‘complex attack,’ while withdrawals have been suspended and are expected to resume in the next day or two. It said it will cover all losses.<\/p>\n

Teng said on Friday that the breach was a “complex attack” involving a compromised laptop and malicious software designed to delete evidence of its activity, making it \u200charder to trace and investigate.<\/p>\n

After the hack, the exchange stopped allowing customers to withdraw their funds, but it said on Saturday it was still on track to reopen withdrawals on Sunday.<\/p>\n

Binance said it has set aside around $6.34 billion of company funds internally \u200bto cover the losses.<\/p>\n

The money spent re-buying tokens came from using part of its $1 billion Secure Asset Fund for \u2060Users (SAFU), a bitcoin reserve it holds to protect customers in the event of security breaches, as \u2060well as some of its Futures Insurance Fund, and the company’s own corporate treasury, \u2060it \u2060said on X.<\/p>\n

Binance also said it \u200bhad taken a new snapshot of assets held on its platform as of 00:00 GMT on \u200bOct. 31, as part \u2060of its proof-of-reserves process.<\/p>\n

Users holding the 10 listed tokens \u2014 BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC \u2014 would be able to verify that their assets were backed at a minimum ratio of 1:1 once the full proof was available, it said. <\/p>\n","protected":false},"excerpt":{"rendered":"Listen to this article Estimated 3 minutes The audio version of this article is generated by AI-based technology.…\n","protected":false},"author":2,"featured_media":953909,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[45,49,48],"class_list":["post-953908","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ca","tag-canada"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/953908","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=953908"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/953908\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/953909"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=953908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=953908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=953908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}