Cryptocurrency exchange Binance has begun restoring “affected assets” to users following the cyberattack on the night of October 29−30. Company representatives told Spot.
The platform pledged to fully compensate customers for their losses using its own funds. It has reserved more than $6.34 billion in assets for this purpose, including $5 billion in the same tokens stolen by the attackers.
Binance is currently purchasing the remaining assets on the market and through over-the-counter channels to cover any potential shortfall.
The purchases may take some time, partly due to limited liquidity in certain tokens. The platform said it would provide updates as more information becomes available.
The company stressed that the $6.34 billion reserve does not include frozen assets or funds secured during recovery or additional verification. With the support of its partners, Binance has managed to freeze around $3 billion.
“We continue to work with our partners and law enforcement agencies to recover these funds,” the company said.
Binance added that it would use its reserves to cover “any confirmed shortfall”. The safety of all user assets will be publicly verified through a Proof of Reserves report.
The cyberattack on Binance took place on October 30, between approximately 01:05 and 01:25 Tashkent time. The attackers withdrew around $6.3 billion from users' crypto wallets, but the exchange and its partners managed to freeze approximately $3 billion.
According to the company, the attackers gained access to its systems through a compromised computer belonging to one of its DevOps engineers. Blockchain experts have attributed the attack to TraderTraitor, a North Korean hacking group.
The English version of this material was generated with the assistance of AI translation tools and may differ slightly from the original text.
