Binance valued the digital assets affected by its Oct. 29 breach at about $6.34 billion, while pledging to cover stolen funds and detailing its recovery efforts.
The exchange said the affected-assets estimate may change as reconciliation proceeds and token prices move. Binance put replacement progress at 98% by Oct. 31. It said purchases continued for the less-liquid assets. The figure was about 95% in an earlier update, as EconoTimes previously reported.
Binance separately put funds frozen or intercepted at about $2.85 billion as of Nov. 3. That figure counts funds secured or stopped, while the replenishment rate describes assets Binance replaced. The exchange said: “Binance will absorb the financial impact of the stolen funds, not our users.”
In its preliminary technical account, Binance described unauthorized access to an internal service for wallet signing. It said transfers were then initiated through a route outside its usual withdrawal process. Binance also said an Ethereum EIP-7702 authorization gave an attacker-controlled smart contract partial execution rights through a hot wallet.
The U.S. Federal Bureau of Investigation (FBI) blamed North Korea for the theft and called the activity “TraderTraitor.” Binance said its investigation was continuing and its findings would receive further independent review.
