Binance arranges $6.34 billion to cover losses from record crypto hack
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Binance moved aggressively to reassure users after the largest crypto exchange suffered the largest cryptocurrency theft in history.
Key facts
The company is also banking on its Secure Asset Fund for Users (SAFU) facility, an emergency reserve that has typically held around $1 billion in bitcoin BTC $77,401.38 for exactly this kind of event
In an update shared with CoinDesk, the exchange said it set aside over $6.34 billion for the incident, with $5 billion already held in the exact token assets that were affected
Late Thursday, attackers drained an estimated $6.3 billion from Binance’s hot wallets across multiple blockchains
Aidan Larkin, co-founder and CEO of Asset Reality, a seized-asset company, called the approach “agentic money laundering
Summary
Binance said it set aside more than $6.34 billion in company resources to restore customer balances after attackers stole an estimated $6.3 billion in the largest such theft in history. The exchange said partners froze $3 billion in stolen assets, separate from its own reserves, while withdrawals remain paused pending security checks and deposits remain open. Blockchain analysts have linked the attack to North Korean hackers with high confidence, as the theft spurs calls for stronger withdrawal safeguards and coordinated industry responses. In an update shared with CoinDesk, the exchange said it set aside over $6.34 billion for the incident, with $5 billion already held in the exact token assets that were affected.