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Related tickers and likely impact
BNB/USDT
▼ Likely negativeBNB
Relevance: high
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Exchange tokens |
| Market cap | $97.5B |
| Close on 10/30/2026 | 704.42 |
| Change that session | +0.85% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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Binance said on Saturday it had replenished 90% of the assets stolen in its $6.3 billion hack, up from about 80% a day earlier. Less-liquid tokens are covering the remaining shortfall as the exchange keeps buying replacement assets through market and over-the-counter trades. The exchange said it remained on track to resume withdrawals on Sunday.
- Binance, crypto and hacks: What to know about keeping coin safe as cyber criminals advance
Binance, the world's largest crypto exchange, was recently hacked with an estimated impact of $6.3 billion, and about $3 billion of the stolen assets has been frozen so far. The exchange pledged to cover all losses from company funds, while TRM Labs and Chainalysis have linked the attack to North Korea, though neither the U.S. government nor Binance has publicly confirmed the source. Experts note that crypto has no legal protection equivalent to FDIC insurance, so repayment depends on the exchange's decision, as when Coinbase reimbursed customers tricked into sending funds after a data-theft incident. When individual accounts are compromised, customers usually bear the losses, and confirmed crypto transactions are generally irreversible. Offline storage can reduce risk, but the Binance case shows that withdrawal-approval systems are also vulnerable, similar to Bybit's $1.5 billion theft last year.
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CEO Richard Teng said Binance will cover all hacked losses with company funds, having reserved over $6.34 billion, of which $5 billion is already held in the exact tokens stolen, with the rest being bought through market and OTC channels. The hack hit Binance's hot wallet, and Teng said customer funds were not touched. He said the attacker used a self-destruct mechanism to wipe tools and traces, and an EIP-7702 delegation that bypassed Binance's normal approval controls; TRM Labs and Chainalysis have attributed the theft to North Korean group TraderTraitor. Binance aims to restore withdrawals by Sunday and publish a full proof of reserves by Monday. On Friday, a Tron wallet that Arkham links to the attacker sent about 5.19 million TRX, worth roughly $1.73 million, to 12 addresses.
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Binance suffered an October 30 attack causing losses estimated in the billions of USD. According to the Vietnam Blockchain and Digital Asset Association (VBA), the attacker used EIP-7702, a feature in Ethereum's Pectra upgrade from May 2025 that lets a regular wallet temporarily run smart contract code, though activation still requires the private key's signature. ChainTracer on-chain data showed Binance 14 was authorized through EIP-7702, Binance 16 made transfers signed with its own private key, and Hot Wallet 34 was indirectly controlled via Binance 14. Tether froze over 1.5 billion USDT and Circle froze 823 million USDC. VBA's chairman stressed that exchange security depends on key governance and signing controls, including multi-party signing and real-time on-chain monitoring.
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