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Binance has resumed Bitcoin, Ether, and selected cryptocurrency withdrawals after replacing approximately 95% of the digital assets stolen in a USD 6.3 billion security breach. The world's largest cryptocurrency exchange began restoring withdrawal services on November 1, with additional assets expected to become available in phases.
The exchange said it had recovered or replaced around USD 6 billion worth of stolen tokens using its own financial resources. The remaining 5% involves less liquid cryptocurrencies that may take longer to purchase in sufficient quantities.
The first phase covers 15 crypto assets, including Bitcoin, Ether, XRP and Dogecoin. Withdrawals for Bitcoin resumed shortly after 0600 GMT on Sunday, followed by Ether, BNB and selected USDT and USDC stablecoins.
Binance said it would continue restoring other withdrawal services after reviewing the security and stability of individual blockchain networks. The temporary suspension began after the massive theft to protect customer assets and support the investigation.
The FBI has attributed the attack to TraderTraitor, a North Korean state-sponsored hacking unit. According to the agency, investigators observed the attackers converting stolen funds into Ether and warned that further attempts to launder the assets could follow.
Blockchain analysis firms TRM Labs and Chainalysis also linked the incident to North Korea. The bulk of the theft reportedly took place within approximately 20 minutes late on October 29. However, US President Donald Trump said Washington had not independently confirmed North Korea's involvement.
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Binance has pledged to absorb the financial impact of the breach rather than pass the losses on to customers. The company has set aside approximately USD 6.34 billion to cover the stolen assets.
The replacement purchases were funded through its USD 1 billion Secure Asset Fund for Users (SAFU), Futures Insurance Fund and corporate treasury. Co-CEO Yi He also said the exchange would replenish SAFU to approximately USD 1 billion after using part of its reserves. Reuters +1
Binance has also worked with industry partners to freeze affected funds, locating approximately USD 3 billion by October 30. The exchange is continuing its recovery efforts while restoring services.
The incident has raised fresh concerns about cryptocurrency exchange security and the growing scale of cyberattacks targeting digital assets. With withdrawals returning, Binance now faces the challenge of rebuilding customer confidence and strengthening its security systems.