Binance says it has covered 90% of assets after record $6.3 billion crypto theft
Binance said Saturday it had secured funds to cover 90% of the estimated $6.3 billion in cryptocurrency stolen from the exchange and expected to resume withdrawals on Nov. 1.
The company said the replacement assets would come from its Secure Asset Fund for Users, its Futures insurance fund and its corporate treasury. Binance said the remaining 10% comprised less-liquid tokens that could take longer to obtain. Deposits and withdrawals were suspended while the exchange investigated and reviewed its security controls.
Binance’s preliminary investigation found that attackers compromised an engineer’s laptop, gained access to a service container and submitted unauthorized withdrawal transactions. The company said it had found no evidence that wallet private keys were leaked.
Blockchain intelligence firms TRM Labs and Chainalysis attributed the attack to TraderTraitor, a North Korean …