Binance says it has replaced up to 90% of the roughly $6.3bn in crypto tokens stolen from its hot wallets this week, and plans to restart customer withdrawals on Sunday, CNBC reports.
The exchange said its largest tokens, including bitcoin, ether and the main stablecoins, are now fully backed, and that the remaining shortfall is in less liquid tokens that will take longer to buy back. It is drawing on its user protection fund, part of its futures insurance fund and its own treasury, and says customers will not bear the losses. The restart of withdrawals depends on security checks.
Separately, the FBI said late on Saturday it had determined that North Korea was behind the theft, the largest on record, and that the stolen assets were being converted into Ethereum for laundering. How the attackers got in is still unclear.
Source: CNBC