Binance says it has restored 90% of funds after $6.3bn hack, FBI links attack to North Korea

The Guardian reported that cryptocurrency exchange Binance has replaced 90% of the $6.3bn stolen in what it called a record hack. The FBI identified the attackers as a North Korean state‑sponsored group, which the agency named TraderTraitor.

Binance said withdrawals are expected to resume on Sunday, adding that the remaining 10% of the tokens are less liquid and may take longer to buy. In a post on X on Saturday, the company explained the liquidity issue and its plan to address it.

Co‑CEO Richard Teng told the platform that Binance is “committed to covering the remaining 10%” and that “users will not bear the financial impact of this incident”. The exchange’s actions aim to reassure customers while the investigation into the North Korean link continues.

Why it matters

The response shows how a major crypto exchange is handling a massive theft and highlights the FBI’s attribution of the hack to a state‑backed group.

Key details

Location

North Korea · Asia

Reported by

The Guardian

First reported

1 Nov 2026, 08:11 IST

Key names

FBI, North Korean, TraderTraitor Cryptocurrency, Binance

Section

Business

Sources

This is an independent summary. Read the full, original reporting from the publisher:

• The GuardianBinance says 90% of losses from $6.3bn hack covered as FBI says North Korea behind attack 1 Nov, 08:11

Read the full story at The Guardian ↗

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