Cryptocurrency exchange Binance has covered the vast majority of losses stemming from a $6.3 billion hack of its platform, according to statements from the company. The FBI has separately identified a North Korean state-sponsored group, known as TraderTraitor, as being responsible for the attack.
Binance said it has replaced 90% of the amount that was taken in what is being described as a record-breaking cryptocurrency theft. According to the Guardian, the remaining 10% of stolen tokens are less liquid assets, meaning they may take considerably longer to recover or replace.
The Guardian also reported that Binance expected to resume withdrawals for users by Sunday following the incident.
The FBI's attribution to North Korea places the attack within a pattern of state-linked cyber operations that have previously targeted financial and cryptocurrency platforms. The group named, TraderTraitor, has been linked by US authorities to the North Korean government.
The scale of the theft sets it apart from previous cryptocurrency hacks, with $6.3 billion representing a significant sum even by the standards of a sector that has seen numerous large-scale breaches in recent years.
No additional details about how the hack was carried out, or how Binance sourced funds to cover the losses, were provided by the sources at the time of publication.
