Binance Replaces 98% of Tokens After $6.36B Hack
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Following a $6.36 billion security breach attributed to North Korean hackers by the FBI, Binance CEO Richard Teng confirmed on Tuesday, November 3, that approximately 98% of affected tokens had been replenished using company funds.
In its October 30 security announcement, Binance pledged to cover losses using its SAFU fund and company funds, saying customer funds were safe.
The FBI identified the attackers as North Korea’s TraderTraitor operation. Teng described the intrusion as a campaign that “was a campaign, built over many months”.
According to Binance security chief Jimmy Su, attackers compromised employees through fraudulent recruitment interviews. They used compromised credentials and EIP-7702 authorisation delegations to enable unauthorised transactions from Ethereum hot wallets.
Key Story Metrics & Analytical Comparison
| Blockchain | Approximate Losses |
|---|---|
| Ethereum | $3.79 billion |
| Bitcoin | $1.47 billion |
| TRON | $628 million |
| XRP Ledger | $296 million |
| Solana | $96 million |
Live XRP chart
Data: CoinGecko. Prices in USD.
