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

Binance, the world's largest cryptocurrency exchange, says it has covered 90% of the $6.3bn (£4.7bn) assets stolen in a hack on Thursday.The remaining 10% may take longer to source in the required amounts, the company added. 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."Binance will absorb the financial impact of these stolen funds, not our users," the company said in a statement on Saturday.In an update on Sunday, Binance said withdrawals had been restored on several of its networks, after they were suspended following the hack.It previously said withdrawals would be resumed in phases.The Federal Bureau of Investigation (FBI) said on Saturday that North Korea was responsible for the attack.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.Two analytics firms previously told the BBC they had robust intelligence pointing to North Korean state-backed hacking uni...