Binance Says 90% of Losses Covered
Binance says 90% of stolen assets are replenished, with withdrawals planned Sunday pending checks.
Balanced
· 23 outletsSummary
Updated Oct 31, 8:38pm ETBinance said it had replenished about 90% of the assets stolen in the $6.3 billion hack. The FBI said North Korea’s TraderTraitorLazarus GroupNorth Korean cybermilitary unit unit carried out the theft; North Korea has denied involvement in cyberattacks of this kind. Hackers moved the crypto from Binance wallets in about 20 minutes on Oct. 29, which investigators described as the largest crypto theft on record. The same unit had been linked by the FBI to the 2025 BybitBybitcryptocurrency exchange theft of about $1.5 billion. Binance said customers would be covered through company funds, insurance funds and its user protection fund. Partners froze about $3 billion. Withdrawals remained suspended, with Binance aiming to resume them Sunday after checks.
Left and right
From the left
Left-leaning outlets framed the day as a containment effort, with asset recovery and customer protection at the center. The Verge emphasized Binance’s decision to cover the stolen funds directly while describing the remainder as harder-to-move tokens. The New York Times leaned into the FBI attribution and the wider shock to crypto markets.
From the right
Right-leaning outlets cast the hack as a show of force by North Korea’s elite cybercriminals, while stressing Binance’s move to absorb user losses. The New York Post portrayed TraderTraitor as a formidable threat and highlighted warnings that traditional banks could face the next wave.
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