Binance Resumes Withdrawals After Record $6.3 Billion Hack
Binance has resumed phased withdrawals after a record $6.3 billion hack, saying it has covered 90% of stolen assets and will absorb the losses.
The update
Binance, the world’s largest cryptocurrency exchange, said Sunday it has resumed withdrawals in phases after hackers stole about $6.3 billion (£4.7 billion) in assets on Thursday in what is described as crypto’s largest hack on record. The exchange said it has replenished about 90% of the stolen amount, covering Bitcoin, Ethereum, Tether and seven other widely traded assets in full, with less liquid tokens still to be sourced. Binance said customers will not bear the loss.
Why it matters
The FBI said Saturday that North Korea was responsible, identifying the activity as TraderTraitor, the group also blamed for the $1.5 billion Bybit theft in 2025. Binance said it is using its Secure Asset Fund for Users, part of its futures insurance fund and its corporate treasury, and has previously said about $3 billion was frozen with partners and law enforcement. President Donald Trump said the culprit remains unconfirmed.
What to watch
Watch whether Binance restores the remaining networks and covers the final 10%, how much of the stolen crypto is frozen or recovered, and whether investigators publish a fuller account of the breach, which the company says involved additional points of entry beyond an initially suspected compromised laptop.
Sources
- bbc.co.uk — confirms the $6.3 billion theft, 90% coverage, withdrawal restart and FBI attribution to North Korea.
- cnbc.com — confirms phased Bitcoin, Ethereum and BNB withdrawals, use of SAFU and treasury funds, and the pledge to reach 100%.
How did this story land?
Choose one reaction. Choosing it again leaves it selected.