Binance says it has fully reimbursed the $6.3 billion stolen in last month’s hack

Binance says it has covered the full $6.3 billion taken by hackers half a month ago, using its own profits and reserve funds. For PSPs and other high-risk payment operators, the practical point is simple: even the biggest crypto venue can end up treating reserves as a backstop when operational security fails.

1. Binance published figures on its Proof of Reserves page, saying the balances of specific cryptocurrencies are backed at least 1:1. That is the part counterparties usually care about first: whether customer-facing assets still match the liabilities on paper.
2. The company said the stolen cryptoassets were compensated from its own profit and reserve funds. In other words, the recovery did not come from some external rescue package; Binance itself absorbed the loss.
3. The hack was described as the largest theft in the history of a crypto project. Binance said the breach happened through a fake job interview and successful use of spyware, which is a reminder that the attack surface is not just on-chain.
4. Elliptic said more than 20,000 wallets and at least 65,000 transactions were involved in laundering the stolen funds. On average, a new wallet was created every 30 seconds, and a transaction was made every 10 seconds.
5. Chainalysis said Chinese money-laundering networks were involved in converting the stolen assets into cash. The hackers also used complex routing across thousands of wallets on different blockchains, and about $430,000 of the stolen crypto was laundered using memecoins.

US authorities and some analysts believe North Korea is behind the theft from Binance wallets. That matters for anyone in high-risk payments because attribution can affect sanctions exposure, counterparty risk reviews, and how aggressively banks and PSPs decide to monitor flows tied to crypto venues.