Binance Resumes Crypto Withdrawals After Covering 95% of $6.3bn Stolen Funds

Binance has begun restoring cryptocurrency withdrawals in phases after saying it has covered approximately 95 per cent of the $6.3 billion in digital assets stolen from its platform in what has been described as one of the largest cryptocurrency heists on record.

The world’s largest cryptocurrency exchange announced on Sunday that the first phase of withdrawals would include Bitcoin, Ethereum, BNB, Solana, XRP, Dogecoin and several other digital assets. The company said the services would return gradually as it completed security and operational checks.

In an update published on its website, Binance said it had replaced approximately $6 billion of the stolen assets, with the remaining five per cent consisting mainly of less-liquid tokens that could take longer to purchase in the required quantities.

The exchange said customer funds would not bear the financial impact of the incident, pledging to absorb the losses through its own resources. It also said the replacement funds were drawn from its Secure Asset Fund for Users, futures insurance reserves and corporate treasury.

Binance had temporarily suspended withdrawals following the breach while it assessed the damage, strengthened security measures and worked with law enforcement agencies and industry partners to trace the stolen assets. Deposits remained open during the disruption, according to the company.

The attack reportedly involved the theft of approximately $6.3 billion in digital assets from Binance-controlled wallets across multiple blockchain networks. The exchange said the incident involved a compromised laptop and malicious software designed to erase evidence of the attackers’ activity. The bulk of the theft was reported to have taken place within about 20 minutes.

The Federal Bureau of Investigation (FBI) has attributed the attack to TraderTraitor, a hacking unit it says is sponsored by the North Korean state. The agency said investigators had observed the attackers converting stolen assets into Ethereum and warned that further attempts to launder the funds could follow.

The FBI has urged cryptocurrency platforms and other organisations to block transactions linked to addresses associated with the alleged attackers. North Korea has repeatedly denied accusations that it uses state-linked cyber units to carry out financial theft and other illicit activities.

However, US President Donald Trump said on Saturday that Washington had not established whether North Korea was responsible, adding that the matter was still being examined. The comment highlights the need to distinguish the FBI’s attribution from a publicly confirmed conclusion accepted by all parties.

The breach has raised fresh concerns about the security of cryptocurrency exchanges and the risks posed by increasingly sophisticated cyberattacks. Binance said it would continue working with investigators and industry partners to recover the outstanding assets and strengthen its security systems.

The company also said it would publish a detailed post-incident report after the investigation is completed, while promising to replenish its user-protection fund following the use of part of its reserves to cover the losses.