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Crypto firm Binance covers 90% of losses after $6.3B hack

Publisher
BBC News (News media)
Original
https://www.bbc.com/news/articles/ckpdg3ql4169o
Published
First seen
Last captured
Watched for edits
No

Capture history

Newest first. The raw hash is the SHA-256 of the stored copy exactly as fetched. We keep the copy privately and publish its hash. The text hash is of the text extracted from it, which is what is compared between captures.

Captured (UTC)Fetched viaHTTPRaw sha256Text sha256Text changed
firecrawl-web082002b6203604962076a8b615f87eda488d1adddcae87f2582f1fef7555e70ccf5a955a55db964e96e006ed83c8ee6b3f84639762414586b9ea30ee8b67412fd19c4No

Changes between captures

No text changes detected between captures of this source.

Claims quoted from this source

ReportedrecoveryStatement 1

Binance stated that it has set aside more than $6.34bn in company funds to cover the losses.

Binance has consistently pledged to cover 100% of the losses from what is suspected to be crypto's biggest hack on record and said it has set aside more than $6.34bn in company funds to do so.

Speaker
Binance
Publisher
BBC News (News media)
Original
Crypto firm Binance covers 90% of losses after $6.3B hack
Captured
Stored copy
sha256 2b6203604962
Published
ReportedresponseStatement 2

Binance stated that it will absorb the financial impact of the stolen funds rather than its users.

"Binance will absorb the financial impact of these stolen funds, not our users," the company said in a statement on Saturday.

Speaker
Binance
Publisher
BBC News (News media)
Original
Crypto firm Binance covers 90% of losses after $6.3B hack
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Stored copy
sha256 2b6203604962
Published
ReportedwithdrawalsStatement 3

Binance stated that withdrawals had been restored on several of its networks after being suspended following the hack.

In an update on Sunday, Binance said withdrawals had been restored on several of its networks, after they were suspended following the hack.

Speaker
Binance
Publisher
BBC News (News media)
Original
Crypto firm Binance covers 90% of losses after $6.3B hack
Captured
Stored copy
sha256 2b6203604962
Published
ReportedattributionStatement 4

The FBI stated that North Korea was responsible for the attack.

The Federal Bureau of Investigation (FBI) said on Saturday that North Korea was responsible for the attack.

Speaker
Federal Bureau of Investigation (FBI)
Publisher
BBC News (News media)
Original
Crypto firm Binance covers 90% of losses after $6.3B hack
Captured
Stored copy
sha256 2b6203604962
Published
ReportedattributionStatement 5

The FBI stated that it observed hackers converting stolen assets into Ethereum and expected further conversion using decentralised finance and instant swap services.

The FBI said it had observed hackers converting stolen assets into a type of cryptocurrency called Ethereum and that it is expected that the assets will then be converted again using decentralised finance and instant swap services.

Speaker
Federal Bureau of Investigation (FBI)
Publisher
BBC News (News media)
Original
Crypto firm Binance covers 90% of losses after $6.3B hack
Captured
Stored copy
sha256 2b6203604962
Published
ReportedrecoveryStatement 6

Binance stated that it had replenished the stolen assets using various funds and its own corporate treasury.

Binance said it had replenished the stolen assets using various funds and its own corporate treasury.

Speaker
Binance
Publisher
BBC News (News media)
Original
Crypto firm Binance covers 90% of losses after $6.3B hack
Captured
Stored copy
sha256 2b6203604962
Published
ReportedrecoveryStatement 7

Binance stated that all holdings of bitcoin, Ethereum, and Tether, along with seven other widely-traded crypto assets, are covered.

All holdings of the cryptocurrencies bitcoin, Ethereum and Tether are covered, along with seven other widely-traded crypto assets, the company said.

Speaker
Binance
Publisher
BBC News (News media)
Original
Crypto firm Binance covers 90% of losses after $6.3B hack
Captured
Stored copy
sha256 2b6203604962
Published
Reportedroot causeStatement 8

Binance's initial investigation suggested an engineer's laptop was compromised, allowing access to unauthorised withdrawals, but a later update said they had uncovered additional points of breach.

Binance's initial investigation suggested an engineer's laptop was compromised, which allowed access to unauthorised withdrawals, but a later update said they had uncovered "additional points of breach".

Speaker
Binance
Publisher
BBC News (News media)
Original
Crypto firm Binance covers 90% of losses after $6.3B hack
Captured
Stored copy
sha256 2b6203604962
Published
Reportedroot causeStatement 9

Richard Teng, Binance's co-chief executive officer, stated that the hack was carried out by more than one person using sophisticated methods to hide their tracks.

Richard Teng, Binance's co-chief executive officer, said the hack was carried out by more than one person, and the hackers used sophisticated methods to hide their tracks, such as a "self-destruct mechanism".

Speaker
Richard Teng
Publisher
BBC News (News media)
Original
Crypto firm Binance covers 90% of losses after $6.3B hack
Captured
Stored copy
sha256 2b6203604962
Published
ReportedfreezeStatement 10

Binance stated that it had frozen around $3bn of stolen assets after working with law enforcement, intelligence firms, and partners.

On Friday, the company said it had frozen around $3bn of stolen assets after working with law enforcement, intelligence firms and partners.

Speaker
Binance
Publisher
BBC News (News media)
Original
Crypto firm Binance covers 90% of losses after $6.3B hack
Captured
Stored copy
sha256 2b6203604962
Published
ReportedrecoveryStatement 11

The US Secret Service stated that it is working around the clock with private sector partners to identify, freeze, trace, and recover funds stolen from Binance.

The US Secret Service said on Friday it is "working around the clock" with private sector partners "to identify, freeze, trace, and recover funds" stolen from Binance.

Speaker
US Secret Service
Publisher
BBC News (News media)
Original
Crypto firm Binance covers 90% of losses after $6.3B hack
Captured
Stored copy
sha256 2b6203604962
Published
ReportedattributionStatement 338

The BBC described TraderTraitor as also known as the Lazarus Group.

they had robust intelligence pointing to North Korean state-backed hacking unit the Lazarus Group, also known as TraderTraitor

Speaker
Not recorded
Publisher
BBC News (News media)
Original
Crypto firm Binance covers 90% of losses after $6.3B hack
Captured
Stored copy
sha256 2b6203604962
Published