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Binance said it tapped its coffers to replenish losses after hackers stole $6.3 billion in assets.
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The company said it would allow withdrawals to begin again on Sunday.
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The $6.3 billion heist was carried out by an elite North Korean group, analysts said.
Two days after analysts said North Korean hackers likely executed a brazen $6.3 billion crypto heist on the blockchain platform Binance, the company says it has replenished about $5.7 billion in the stolen assets.
In an update on Saturday morning, Binance said it tapped its corporate treasury to purchase billions of dollars in crypto from the market and private brokers.
“We’ve now replenished 90% of the stolen assets, and we’re committed to covering the remaining 10%,” Richard Teng, the company’s co-CEO, said on X. “Our users will not bear the financial impact of this incident.”
Binance already had an emergency fund of about $1 billion for situations like this, but the unprecedented scale of the attack rendered that piggy bank insufficient to cover the losses.
To remediate the heist, Binance also tapped into its Futures Insurance Fund, a regulatory requirement typically used to protect traders against losses suffered during extreme market conditions.
Binance said on Saturday that it plans to resume withdrawals on Sunday. Like a bank, Binance holds assets deposited by customers, who rely on the company to safeguard their funds and return them when requested.
On Thursday, around 4 p.m., Binance reported a security breach on its blockchain network that it initially said was made possible by a compromised employee laptop. The company later revised this assessment, saying the attack was broader in scope.
Some blockchain intelligence firms said the breach was likely the work of an elite North Korean hacker group called TraderTraitor, noting similarities to its previous attacks. In 2025, the FBI named the same group responsible for a $1.5 billion hack on Bybit, another crypto exchange.
Within minutes, the hackers had siphoned billions of dollars in cryptocurrency from Binance-controlled wallets. According to analysts, the hackers used automated scripts to rapidly transfer the money around in an apparent attempt to launder it.
Stablecoin issuers reacted quickly by freezing funds in traceable currencies, but the hackers still managed to convert about $786 million into comparably untraceable currencies, intelligence platform Elliptic said.
Ari Redbord, global head of policy at TRM Labs, a blockchain intelligence platform, told Business Insider on Friday that the North Korean hackers are likely moving to offload their pilfered funds into the country’s weapons program.
“When North Korea steals at this scale, the money supports weapons proliferation, and every dollar we freeze or trace is a dollar the regime loses,” Redbord said in an email.
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