Binance co-CEO Richard Teng announced that the exchange has replenished 95% of the cryptocurrency assets stolen during a record-breaking hack last week. Speaking at Hong Kong Fintech Week, Teng stated the platform remains in very strong financial health despite the incident.

Hackers drained approximately $6.3 billion from Binance wallets on Thursday evening. Blockchain analysis firm TRM Labs reported the theft unfolded over roughly 20 minutes, with funds dispersed across 10 different blockchains. Binance suspended withdrawals immediately but resumed them in phases by Sunday.

Teng confirmed that the losses were covered by Binance’s Security Asset Fund for Users (SAFU), a $1 billion bitcoin reserve established in 2018, alongside other company funds. The remaining 5% of affected tokens are less liquid and are being replaced through over-the-counter providers. The company promised a full post-mortem of the breach.

Customer outflows have been significant following the breach. Teng reported that customers withdrew a net $4.72 billion by Monday, representing around 3% of the platform's total assets. Most of these withdrawals were in Tether's USDT stablecoin. However, hourly inflows and outflows have largely returned to normal levels.

On Saturday, the FBI attributed the theft to TraderTraitor, a North Korean state unit associated with the Lazarus Group. This same unit was previously linked to the $1.5 billion Bybit hack in February 2025. The bureau noted attackers were converting stolen assets into ether and likely laundering them through decentralized finance services.

In response, stablecoin issuers Tether and Circle, along with Ripple, Arbitrum, and Optimism, froze approximately $2.85 billion of the stolen funds on-chain. North Korea dismissed the FBI's findings as absurd political provocation. Kim Yo Jong, sister of leader Kim Jong Un, issued a statement via state media denying any involvement.

Binance has not officially assigned blame for the attack. Initially, the company cited a compromised engineer's laptop but later indicated additional points of breach were found. Officials stated no wallet private keys appear to have leaked. The incident has renewed debates regarding crypto storage security and whether users should keep assets on centralized exchanges.