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Binance, the world's largest cryptocurrency exchange, explained that it had covered 90% of the $6.3 billion (approximately KRW 8.415 trillion) assets stolen in the hacking incident that occurred on October 29 (local time).
He then explained that it may take more time to raise the remaining 10%.
In response to this incident, which is believed to be the largest hacking incident in cryptocurrency history, Binance has continuously promised to compensate for 100% of the losses resulting from the incident, and announced that it has set aside approximately $6.34 billion in company funds for this purpose.
In addition, in a statement on the 31st, it was emphasized that "the company, not the user, will bear the financial losses resulting from stolen funds."
Binance explained on the 1st that the withdrawal service that had been suspended due to the incident had been restored. Binance previously announced that it would gradually resume withdrawal services.
Meanwhile, on the 31st, the U.S. Federal Bureau of Investigation (FBI) identified North Korea as the mastermind behind this attack.
The FBI announced that it had detected circumstances in which hackers were converting the stolen assets into a cryptocurrency called 'Ethereum', and that it is expected to convert them again through decentralized finance and instant swap services.
Previously, two major blockchain analysis companies told the BBC that they had secured solid information supporting the possibility that it was the work of the 'Lazarus Group' specifically pointed out by the FBI. The Lazarus Group is a North Korean-supported hacking organization, also known as 'Trader Trader'.
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U.S. President Donald Trump, who met with reporters on the night of the 31st, said that the U.S. was not yet sure who was behind the attack.
“We are currently investigating. We do not know whether North Korea is the culprit, but if so, we will discuss this with North Korea,” he explained.
Meanwhile, Binance announced that it had used multiple funding sources and company funds to restore the stolen funds.
He then explained that the scope of coverage includes not only all holdings of Bitcoin, Ethereum, and Tether, but also seven other actively traded cryptocurrency assets.
The scale of damage from this hacking incident is estimated to be the largest ever, surpassing the $1.5 billion theft that occurred at the exchange 'Bybit' in 2025. The FBI also pointed to North Korea as the mastermind behind the incident.
However, North Korea has continued to deny these allegations.
Binance said its initial investigation showed that an engineer's laptop had been hacked, allowing for unauthorized withdrawals, but later updated to say "additional points of compromise" had been discovered.
Binance co-CEO Richard Teng said the hack was carried out by multiple hackers, who used sophisticated methods such as "self-destruct mechanisms" to cover their tracks.
On the 30th, Binance explained that it had cooperated with law enforcement agencies, intelligence companies, and partners to freeze approximately $3 billion worth of stolen assets and that the investigation was ongoing.
On the same day, the U.S. Secret Service also said it was "working around the clock" with private sector partners "to trace, freeze and recover" funds stolen from Binance.
Founded in China in 2017, Binance is a platform for buying, selling, and trading digital assets, and is estimated to have hundreds of millions of users worldwide.
Cryptocurrency refers to a digital asset that does not exist physically, but is accessed through a digital wallet or computer.
