Binance co-CEO Teng says company in healthy state after $6.3 billion theft

At Hong Kong Fintech Week on Tuesday, Binance co-CEO Richard Teng said the exchange was in a strong financial position and had replaced 95% of about $6.3 billion stolen in a hack the previous week, described as the largest on record. He said deposits and withdrawals had largely returned to normal and that customer funds were safe. Binance said losses were covered by its Secure Asset Fund for Users, a Bitcoin reserve created in 2018, plus other company funds; it set aside about $6.34 billion. The FBI attributed the theft to a North Korean group, which Pyongyang denied. Binance had not publicly named a culprit.