Binance restarts withdrawals after $6.3bn hack blamed on North Korea
Binance has begun restoring customer withdrawals after hackers stole about $6.3bn in cryptocurrency. The FBI says North Korea was responsible for the theft.
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- Binance is restoring withdrawals in stages after the attack of October 29
- The FBI blames North Korean actors it tracks as TraderTraitor
- Binance says it replaced about 95 percent of the affected assets and will absorb the loss
Binance has started restoring customer withdrawals after hackers stole about $6.3bn in cryptocurrency from the exchange. According to Al Jazeera, some services resumed on Sunday, following a suspension imposed after the attack on Thursday, October 29.
Withdrawals are being reopened in stages. They begin with major cryptocurrencies such as Bitcoin and Ether and some stablecoin services. Further services will reopen as security checks are completed.
Binance warned that high demand could cause delays. It advised customers whose transactions fail to try again after a short wait.
The company said it had replaced approximately 95 percent of the affected assets. In a statement, Binance said: "Binance will absorb the financial impact of the stolen funds, not our users."
The FBI said on Saturday that North Korea was responsible for the theft. It identified the operation as cyber-activity it tracks under the name TraderTraitor. The FBI, together with the USSS and IRS-CI, observed the attackers converting stolen assets primarily into ether.
The FBI expects the funds to be laundered further through decentralised finance platforms and instant swap services. The agency previously attributed the theft of about $1.5bn from the exchange Bybit in February 2025 to the same actors. The Verge noted that the FBI offered few other details or evidence.
On the cause of the breach, Binance first said a compromised employee laptop might have enabled the intrusion, but later reported additional points of breach. Its investigation is ongoing, and it will publish a detailed report once it is complete.
Binance said it is working with law enforcement and industry partners to trace and recover the stolen assets.
Why it matters
Pakistani users of global crypto and digital payment platforms face the same hacking risks. The case shows how a large exchange responded to a major theft.
