BBC · 2026-10-31 16:32 UTC

Crypto firm Binance covers 90% of losses after $6.3bn hack

Binance has covered 90% of the $6.3bn in assets stolen in a Thursday hack, with the remaining 10% expected to take longer to source. The company pledged to cover 100% of losses using company funds and corporate treasury; all holdings of bitcoin, ethereum, Tether and seven other major crypto assets are covered. Binance aims to resume withdrawal services on Sunday, November 1st; the hack is suspected to be crypto's largest on record, with North Korean state-backed group The Lazarus Group identified as likely culprits.

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