In a video address on Friday, CEO Richard Teng said Binance will cover all hack losses with its own money. The attack hit the exchange's hot wallet, while customer assets held mostly in cold storage were not touched.

Binance has set aside more than $6.34B, of which $5B is already held in the exact stolen tokens (USDC, USDT, BTC, ETH and BNB). The rest is being bought via market and OTC channels.

The attacker used an EIP-7702 delegation that bypassed Binance's normal approval controls and a self-destruct mechanism that wiped tooling and traces. TRM Labs and Chainalysis attribute the theft to North Korea's TraderTraitor group.

Binance aims to restore withdrawals by Sunday and publish a full proof of reserves by Monday. Funds are still moving: a Tron wallet tied to the hacker sent about 5.19M TRX ($1.73M) to 12 addresses on Friday.