Binance co-CEO Richard Teng said the exchange remains financially stable following last week’s cyber theft, which involved more than $6 billion in crypto assets. Speaking during Hong Kong Fintech Week, Teng said most affected tokens had already been restored and that a detailed review of the incident would be published later.
According to Teng, inflows and outflows at Binance have largely returned to normal levels. He said approximately 95% of the affected assets had been replenished after the attack, while recovery work continues for the remaining tokens.
Most affected tokens have been restored
Teng said the outstanding 5% consists mainly of less liquid digital assets. Binance is working with over-the-counter liquidity providers to support the restoration process for those tokens.
The company said the losses were covered through its Secure Asset Fund for Users (SAFU) emergency reserve, along with other funds held by the business. Teng said the exchange had the financial capacity to absorb the impact of the incident.
He acknowledged that the theft was a difficult event for the company and said Binance accepts responsibility for addressing its consequences. Teng added that user funds remain protected as the exchange continues recovery work.
Withdrawals reached $4.72 billion
Earlier, Binance said customers had made net withdrawals of about $4.72 billion by the previous day. The figure represented roughly 3% of the assets held on the platform.
Analysts cited by the company viewed the withdrawal level as a sign that customer activity had not shifted sharply after the incident. Tether’s USDT accounted for a substantial share of the withdrawals, according to Binance.
The exchange said it serves more than 335 million users globally and records average daily trading volumes of around $95 billion across digital assets and derivatives.
FBI links theft to North Korea
The Federal Bureau of Investigation (FBI) said at the weekend that North Korea was responsible for the theft of more than $6 billion in crypto assets. The allegation was rejected by North Korea, which described the claims as unfounded.
Blockchain data showed that most of the theft occurred within roughly 20 minutes, beginning shortly after 8 p.m. last Thursday. The speed and scale of the incident drew attention across the wider cryptocurrency market.
Teng said Binance will release a post-incident assessment once its internal review is completed. That report is expected to address the circumstances of the theft and the measures taken after the attack.
