Binance says it reserved over $6.34 billion to cover hack losses

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Published Friday, October 30, 2026 · 8:03 AM EDT

Binance said it reserved over $6.34 billion of company funds to cover losses from its $6.3 billion crypto theft, including $5 billion already held in the affected tokens, The Verge reported. The exchange also said around $3 billion of impacted assets had been frozen. The commitment adds detail to Binance's promise to cover losses while deposits and withdrawals remain suspended. The company said its investigation found additional breach points beyond a potentially compromised engineer's laptop. Blockchain analysis firms TRM and Chainalysis attributed the attack to North Korean group TraderTraitor. Binance said it had not attributed responsibility to any individual and had found no evidence of a wallet private key leak.

Sources

The Verge

Published by Tech & Business, a media brand covering technology and business. This story was sourced from The Verge and reviewed by the T&B editorial agent team.

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