Binance has declared that it possesses the financial capacity to absorb the losses resulting from a theft that affected US$ 6.3 billion (equivalent to about R$ 24 billion) in cryptocurrencies. According to Co-CEO Richard Teng, the majority of the affected tokens, specifically 95%, have already been replaced, and platform transactions are returning to normal.
The FBI attributed the attack to North Korea, although the country has denied the allegations made by the United States. This incident is considered one of the largest documented thefts of digital assets.
During the Hong Kong Fintech Week on Tuesday (3), Richard Teng announced that the company will provide a detailed analysis of the attack, termed a post-mortem, at an appropriate time. The lost amounts were covered by the Secure Asset Fund for Users (SAFU), which functions as the exchange's emergency reserve, in addition to other financial resources segregated by the company.
The remaining 5% of the tokens still require replacement. Teng explained that these assets have lower liquidity, and Binance is using over-the-counter trading providers to recover these values. The executive stated: 'It was a painful lesson. We take responsibility for this. We will come out stronger; user funds are safe in this regard, and we will continue to grow more and more.'
Until Monday (2), customers had made withdrawals totaling US$ 4.72 billion (approximately R$ 25.48 billion) more than they had deposited. This amount corresponds to about 3% of the assets held on the platform. Most of these withdrawals were made in USDT, the stablecoin issued by Tether.
Despite the withdrawal volume, which analysts assessed as relatively contained, indicating that customer confidence remained largely intact, Binance communicated on Tuesday that hourly deposits were already exceeding withdrawals.
The FBI had reported over the weekend that North Korea was responsible for the theft of more than US$ 6 billion (R$ 32.4 billion) in crypto assets. Blockchain records show that most of the attack occurred within a period of approximately 20 minutes, shortly after 8 PM GMT on Thursday.
Kim Yo Jong, sister of North Korean leader Kim Jong Un, refuted the accusations in a statement released by the state agency KCNA. She classified the American statement as 'absurd rhetoric' and accused Washington of improperly linking the country to criminal cyber activities.
North Korea has faced increased scrutiny due to cryptocurrency thefts, which analysts point to as a source of funding for its military programs. Estimates from Elliptic suggest that the country stole US$ 7.6 billion (about R$ 41 billion) in cryptocurrencies in 2026, surpassing any previous year.
Chainalysis data reveals that 89% of losses caused by attacks on crypto services in 2026 were linked to North Korea, compared to 15% in 2021. The same company calculated that the average loss per attack grew from US$ 50.65 million (about R$ 273.51 million) in 2021 to US$ 185.65 million (approximately R$ 1 billion) in 2026.
The amount stolen from Binance also stands out when compared to the size of the North Korean economy. The Bank of South Korea estimated the country's Gross Domestic Product (GDP) at 47.18 trillion won (US$ 35.09 billion) in 2025. In this scenario, the amount diverted from the exchange is equivalent to approximately one sixth of North Korea's annual economic output.
Following the incident, Binance suspended withdrawals for more than two days. Withdrawals of certain assets were reactivated on Sunday, and other options were released on Tuesday. On Monday, the exchange launched a promotional campaign aimed at encouraging trading and attracting new users, with offers valid until November 21, as published on the company's website.
Binance has over 335 million global users and registers an average daily trading volume of US$ 95 billion (about R$ 513 billion) in digital assets and derivatives. The company also confirmed that, after resuming operations, hourly deposits began to exceed withdrawals.
