FOX · 2026-11-03 17:07 UTC

Binance co-CEO says customers won't lose a dime after massive $6B heist

Binance co-CEO Richard Teng confirmed the exchange is absorbing 100% of losses from a $6.3B hack attributed to North Korean hackers, with no customer balances compromised. 98% of impacted assets have been replenished; the remaining 2% are less-liquid tokens being procured without affecting market functioning. Binance maintains $171B in total reserves and used dedicated protection funds like its SAFU fund to cover the theft.

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