Michael Saylor, executive chairman of Strategy, publicly endorsed Binance’s commitment to reimburse customers following a $6.3 billion security breach, saying he expects the exchange to deliver on its pledge.
Binance said it has reserved more than $6.34 billion in company funds to cover affected assets, with $5 billion already held in the exact cryptocurrencies stolen. The exchange is buying the remaining tokens through market and over-the-counter channels, noting some purchases may take longer because of limited liquidity.
Withdrawals remain paused while Binance completes security upgrades, with a service update pointing to a possible resumption within 48 hours. Deposits are operating normally. Binance added that frozen assets, roughly $3 billion, are separate from replacement funds and remain subject to recovery and verification. Customer holdings will later be publicly verified through proof-of-reserves reporting.
TRM Labs traced approximately $6.36 billion in outflows across 10 networks, with Ethereum accounting for about $3.79 billion, Bitcoin $1.47 billion and Tron $628 million. Investigators attributed the operation to North Korea’s TraderTraitor group with high confidence. Binance identified a compromised DevOps engineer’s laptop as a possible entry point and said no evidence showed wallet private keys leaked.
