Binance Says Assets Cover 95% of $6.3 Billion Heist

Binance says it has obtained enough assets to cover about 95% of the $6.3 billion stolen in the hack. That is the latest turn in a theft that sparked a rush of withdrawals and a fight over who was responsible. The FBI blamed a North Korea-linked hacking group, but Pyongyang called the claim a political provocation. The recovery figure offers customers some reassurance, even as questions about the money and attackers remain. ^1,3

The FBI named the group TraderTraitor on Saturday, saying it was behind the attack on the world’s largest crypto exchange. North Korean official Kim Yo Jong, the leader’s sister, rejected the accusation Tuesday, calling it “absurd rhetoric” and saying Washington was trying to damage her country’s image. The same group was blamed for stealing $1.5 billion from Bybit in 2025. Investigators say the Binance attackers moved stolen money through thousands of wallets and different crypto networks, trying to make it harder to track. ^1,5

Those wallets helped move money, but they did not make every stolen token impossible to freeze. Some stablecoin companies can freeze tokens in specific accounts. Blockchain firm TRM Labs says issuers and other groups froze about $2.7 billion, while Binance put the figure near $3 billion. Researchers say thieves quickly swapped some stablecoins for ether, which token issuers cannot freeze. Customers also withdrew about $4.64 billion after Binance lifted a temporary pause on withdrawals, putting pressure on the exchange to reassure users. ^3,4

Those customer withdrawals make Binance’s 95% asset figure especially important. The exchange says it has assets to cover most of the loss, but that does not by itself show who carried out the hack. Kim’s denial does not settle the FBI’s claim either. The FBI and blockchain firms continue tracking the funds as North Korea rejects the accusation and Binance faces customers’ questions about the theft. ^1,5