Binance says it has covered 90% of the losses from the hack after setting aside more than $6.3 billion for compensation

Binance said it has compensated 90% of the losses linked to the hack and is still buying back the remaining tokens through exchange and OTC channels until coverage reaches 100%. For high-risk operators and their payment partners, the useful detail is simple: the company says the losses will sit with Binance, not with users.

1. In a post on X, Binance said it has now fully backed BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC, and plans to keep repurchasing the remaining tokens until the shortfall is covered in full.
2. The company said it will transfer part of the funds from its SAFU (Secure Asset Fund for Users) within the next 24 hours. It also plans to use part of its futures insurance fund and its own corporate funds to make users whole.
3. Binance had previously reserved more than $6.3 billion for reimbursement. That number matters because it sets the scale of the hit: if confirmed, this would be the largest crypto theft in history.
4. The FBI said the theft of virtual assets from Binance, worth more than $6 billion, was carried out by North Korea. BBC reported that the bureau считает TraderTraitor, an elite North Korean hacking group, was behind the attack.
5. According to the FBI, stolen funds were mainly moved into Ethereum (ETH), and law enforcement expects the attackers to launder the assets through decentralized finance (DeFi) services and instant crypto swap platforms. Earlier, TRM Labs, Chainalysis, and Singapore-based cybersecurity firm Pangolin Intelligence had also linked the attack to North Korea based on blockchain activity and patterns from previous incidents.

Binance said the suspected breach became visible on the evening of 29 October, when funds from wallets across nine blockchain networks, including Bitcoin, Ethereum and Solana, began moving to addresses controlled by a single attacker.