Binance Moves to Resume Withdrawals After Replacing Most Assets Stolen in $6.3 Billion Hack
publishers 28articles 37first reported 30 Oct, 11:29 UTCdeveloping since 30 Oct · 3 editionstop 25 #18
Binance said it was preparing to resume cryptocurrency withdrawals in phases on Sunday after replacing most of the assets stolen in a $6.3 billion cyberattack.
The exchange reported on Saturday that it had replenished 90% of the stolen assets. A later update cited by The National put the figure at 95%, with the balance consisting of less-liquid tokens that could take longer to acquire. Binance said the purchases were funded through its $1 billion Secure Asset Fund for Users, its Futures Insurance Fund and corporate funds. It has reserved about $6.34 billion to absorb the losses and says customers will not bear the financial impact.
Withdrawals were suspended while Binance contained the breach, assessed its systems and carried out security checks. The first phase of restored withdrawals, scheduled between 6 a.m. and 9 a.m. GMT Sunday, was expected to include bitcoin, ether, BNB, Solana and XRP. Deposits remained open.
The FBI attributed the Oct. 29 theft to TraderTraitor, a North Korean state-sponsored hacking unit, and said the group had begun converting stolen assets into ether. The agency warned that further laundering through decentralized finance and instant-swap services was expected.
Binance co-CEO Richard Teng described the breach as a complex attack involving a compromised laptop, additional intrusion points and malicious software designed to erase evidence. Binance said the affected assets came from its own hot wallet rather than customer funds.
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Written from 8 articles, 5 with the publisher's own text; 8 independent newsrooms once syndicated copies count as one; this version written 42 h after the record first saw the story; the editor kept it as written.
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- This version written
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