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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Keywords
BNBbitcoincryptocybersecurityNorth Korea
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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 10/29/2026 | 698.46 |
| Change that session | -8.08% |
BTC/USDT
• NeutralBitcoin
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 10/29/2026 | 77,991.89 |
| Change that session | -4.12% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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