Michael Saylor backs Binance’s pledge to repay users after record breach

The Strategy executive chairman says Binance will cover losses from its own balance sheet and expects the industry to come out of the incident stronger Michael Saylor is publicly backing Binance after what is being described as the largest recorded digital asset theft. He expects the exchange to make affected customers whole. The Strategy executive chairman also argued that the industry will learn from the incident. That is an optimistic read on a breach Binance estimates at approximately $6.3 billion. What happened at Binance The security breach took place on October 29-30, 2026, and hit digital assets spread across multiple blockchains. On October 30, Binance put the estimated impact at approximately $6.3 billion. The attackers did not linger. Nearly $6.36 billion in stolen assets was moved across at least 10 blockchains within roughly 20 minutes. The breach has been attributed to TraderTraitor, a North Korean hacking group. The incident reportedly exceeds previous digital asset thefts by a significant margin. Binance did claw some ground back. About $3 billion of the assets were frozen on-chain with help from law enforcement and partners. Withdrawals were paused while the exchan...