Business · 2026-11-01 · Afternoon briefing

Binance covers 90% of record $6.3bn crypto theft

Binance, the world's largest cryptocurrency exchange, has covered 90% of the $6.3bn in assets stolen in a hack last Thursday. The company stated it will absorb the full financial impact, having set aside over $6.34bn for this purpose, and restored customer withdrawals on several networks by Sunday. The theft is suspected to be the largest in crypto history, eclipsing a $1.5bn heist from the Bybit exchange in 2025.

The FBI on Saturday attributed the attack to the North Korean state-backed Lazarus Group. In response, Binance has frozen around $3bn of the stolen assets in co-operation with law enforcement. However, US President Donald Trump later told reporters the US was "still unsure who the culprits are". Binance's co-CEO said the hackers used sophisticated methods, including a "self-destruct mechanism", to hide their tracks.

Summary written by Cup of News with AI from the sources below. Check the originals for the full story.

Read the sources

• Crypto firm Binance covers 90% of losses after $6.3bn hack
• Binance says 90% of losses from $6.3bn hack covered as FBI says North Korea behind attack
• Binance says it has replaced 90% of funds lost in record $6.3bn hack
• Binance pledges full compensation after record crypto theft
• Binance says it has replaced 90% of $6.3 billion stolen in record crypto hack

More stories in this edition

1. Widespread blackouts in Ukraine after Russian energy strikes
2. Democrats lead polls ahead of US midterms test for Trump
3. Somali pirates seize Iranian vessel with 23 crew
4. China mandates Communist Party role in tech firms
5. Switzerland restores North Korea dialogue with first visit since 2003
6. UN nature summit faces reform calls after 34 years of failure
7. EU backs Tusk in Polish constitutional court showdown
8. Wildlife trade involves double the species previously thought, study finds
9. Switchable tattoos offer impermanent body art

Read the whole edition