Binance Recovers 90% of Assets After $6.3 Billion Hack

Binance announced that it has recovered 90% of the assets lost in a hack totaling $6.3 billion. The company is using corporate treasury resources and insurance funds to cover the deficit. Withdrawals are expected to resume this Sunday.

The remaining balance consists of tokens with lower market liquidity. The exchange is purchasing these assets through direct transactions and over-the-counter operations. The goal is to ensure that users do not suffer direct financial losses from the incident.

The attack has been attributed to the North Korean group TraderTraitor. Binance has set aside $6.34 billion to ensure full coverage of the affected amounts. Industry partners such as Tether and Circle have also frozen approximately $3 billion in assets linked to the theft.

The exchange published a new reserve update to prove its solvency. The generation of a complete cryptographic proof is underway and should take up to 50 hours due to the computational load. Bitcoin and Ether balances are already fully backed according to the company.

The stabilization of major trading platforms reduces systemic uncertainty in the digital asset market. This movement tends to ease selling pressure during periods of global liquidity crises.