Binance Restores Withdrawals After $6.3 Billion Crypto Theft
The exchange says customer losses from the security breach have been fully covered. US investigators have attributed the attack to the North Korea-linked TraderTraitor group.
Binance has restored cryptocurrency withdrawals following an October 30 cyberattack in which digital assets worth about $6.3 billion were stolen. The exchange said it replenished the missing funds with its SAFU user-protection reserve, insurance resources and corporate assets.
Radio Svoboda reported the resumption on Sunday, November 1. Withdrawals returned in stages after further security checks, while the company said its investigation had found no evidence that the private keys securing exchange wallets were compromised.
Investigators believe the attackers gained access through an employee’s personal laptop and then entered an internal transaction system. TRM Labs estimated that preparations began at least 36 hours before the theft, with small test transfers across 10 blockchains preceding the removal of most assets in roughly 20 minutes. Binance and its partners froze about $3 billion, though a freeze does not constitute recovery of the money.
The FBI blamed TraderTraitor, a hacking operation associated with North Korea, and said much of the stolen value was being shifted into Ethereum for possible laundering through decentralized-finance and instant-exchange services. President Donald Trump said Washington was still examining the case and lacked conclusive proof that North Korea was responsible.