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SecurityQuiet 5d · day 6

Binance CEO says exchange in "very strong financial health" after $6.3B hack

Richard Teng says 95% of stolen tokens have been replenished and withdrawals have normalised a week after North Korea-linked heist.

newest coverage 5d agosummary written 5d ago8 pieces NewswiresGoogle NewsMastodonYouTubeX

What to know

  • Binance says 95% of the roughly $6.3 billion stolen has been replenished from its SAFU emergency reserve and other company funds; the remaining 5% is in less-liquid tokens being restored via OTC providers.
  • The FBI has attributed the theft — potentially the largest-ever financial heist, executed in about 20 minutes — to North Korea, which denies responsibility.
  • Net customer withdrawals reached $4.72 billion (about 3% of platform assets) as of Monday, a figure analysts say suggests customer confidence has largely held.
  • A full post-mortem of the breach has not yet been released; Binance says it will come "in due course."

“We will come out stronger, user funds are safe on that front, and we will continue to grow from strength to strength.”

Richard Teng, Binance co-CEO · Channel News Asia ↗ · Nov 2

Richard Teng Binance co-CEOBinance Cryptocurrency exchange, victim of the heistFBI US investigatorNorth Korea Accused state actor

Binance CEO says exchange in "very strong financial health" after $6.3B hack
Channel News Asia

How it unfolded 1 development · click the chart to see its coverage articlesposts

Peak 2 pieces in two hours at Nov 3, 12 AM; 8 pieces over 6 days (5 articles · 1 video · 2 posts) Nov 2, 6 PM — 1 piece · 1 post — Mastodon 1Nov 2, 8 PM — quietNov 2, 10 PM — quietNov 3, 12 AM — 2 pieces · 2 articles — Google News 2Nov 3, 2 AM — 2 pieces · 2 articles — Newswires 2Nov 3, 4 AM — quietNov 3, 6 AM — 1 piece · 1 video — YouTube 1Nov 3, 8 AM — quietNov 3, 10 AM — 2 pieces · 1 article · 1 post — Google News 1, X 1Nov 3, 12 PM — quietNov 3, 2 PM — quietNov 3, 4 PM — quietNov 3, 6 PM — quietNov 3, 8 PM — quietNov 3, 10 PM — quietNov 4, 12 AM — quietNov 4, 2 AM — quietNov 4, 4 AM — quietNov 4, 6 AM — quietNov 4, 8 AM — quietNov 4, 10 AM — quietNov 4, 12 PM — quietNov 4, 2 PM — quietNov 4, 4 PM — quietNov 4, 6 PM — quietNov 4, 8 PM — quietNov 4, 10 PM — quietNov 5, 12 AM — quietNov 5, 2 AM — quietNov 5, 4 AM — quietNov 5, 6 AM — quietNov 5, 8 AM — quietNov 5, 10 AM — quietNov 5, 12 PM — quietNov 5, 2 PM — quietNov 5, 4 PM — quietNov 5, 6 PM — quietNov 5, 8 PM — quietNov 5, 10 PM — quietNov 6, 12 AM — quietNov 6, 2 AM — quietNov 6, 4 AM — quietNov 6, 6 AM — quietNov 6, 8 AM — quietNov 6, 10 AM — quietNov 6, 12 PM — quietNov 6, 2 PM — quietNov 6, 4 PM — quietNov 6, 6 PM — quietNov 6, 8 PM — quietNov 6, 10 PM — quietYesterday, 12 AM — quietYesterday, 2 AM — quietYesterday, 4 AM — quietYesterday, 6 AM — quietYesterday, 8 AM — quietYesterday, 10 AM — quietYesterday, 12 PM — quietYesterday, 2 PM — quietYesterday, 4 PM — quietYesterday, 6 PM — quietYesterday, 8 PM — quietYesterday, 10 PM — quietToday, 12 AM — quietToday, 2 AM — quietToday, 4 AM — quietToday, 6 AM — quietToday, 8 AM — quietToday, 10 AM — quietToday, 12 PM — quiet 1
Nov 3Nov 4Nov 5Nov 6yesterdaynow · 1:09 PM ET
  1. 1
    “The company is in very strong financial health. This is something that we can cover. We are able to do so.”
    — Richard Teng

    1. 3 outlets first by Channel News Asia, 5d ago · also Kansas City Star, Reuters · read ↗

    • Binance Co-CEO Richard Teng: “We now are operating, we are protecting every user, and we are extremely thankful for our users' confidence and trust

      @binanceX5d agoview on X ↗
  2. background

    Binance discloses $4.72 billion in net customer withdrawals — Binance said customers had withdrawn a net $4.72 billion as of Monday, about 3% of platform assets, mostly in Tether's USDT stablecoin; analysts said the modest figure suggested confidence had largely held up.

  3. background

    North Korea denies involvement in the heist — North Korea rejected the FBI's allegations, calling them "absurd rhetoric."

  4. background

    FBI attributes the $6 billion theft to North Korea — The FBI said over the weekend that North Korea was responsible for stealing more than $6 billion in crypto assets from Binance, sending shockwaves through the industry.

  5. background

    Hackers steal $6.3 billion from Binance in roughly 20 minutes — Blockchain records showed most of the heist unfolded in about 20 minutes, beginning shortly after 4am Singapore time (2000 GMT Thursday), in what could be the largest-ever financial heist.