Binance has replaced 90% of the $6.3 billion stolen in a recent cyber attack. The firm plans to restore all user funds soon.
Binance recently suffered a massive security breach. The cryptocurrency exchange lost $6.3 billion in digital assets. It remains the largest hack in crypto history.
However, the firm has already replaced 90% of the missing funds. It aims to cover the final 10% soon. Binance promised to absorb all financial losses itself.
Next, the company used its own treasury to protect users. It confirmed that Bitcoin, Ethereum, and Tether holdings are fully secure. Seven other popular assets are also covered.
Also, the exchange plans to resume withdrawal services. It aims to reopen these services by November 1. The team will more updates as they confirm details.
Meanwhile, the investigation into the breach continues. Initial reports mentioned a compromised laptop. New findings show attackers used multiple points of entry.
Furthermore, CEO Richard Teng described the attackers as highly skilled. He stated they used advanced methods to hide their actions. This included a self-destruct tool to mask their movements.
After that, the firm worked with law enforcement to freeze $3 billion in assets. The U.S. Secret Service is actively helping trace the stolen money. They want to identify everyone involved in the crime.
Still, experts point to a specific group as the prime suspect. Blockchain analysts link the theft to the North Korean Lazarus Group. This organization allegedly conducts state-backed cyber attacks.
Finally, the FBI previously tied this same group to other large thefts. North Korea denies any part in these digital crimes. Binance continues to work hard to secure its platform.