Binance resumed withdrawals after the largest cryptocurrency theft in history

Withdrawals resumed in stages

Binance, the world's largest cryptocurrency exchange by daily trading volume, said on Sunday that it had resumed withdrawals, which were suspended after a major hack affecting funds worth more than $6 billion. The Bitcoin network was opened first — as the exchange stated on X, this is the first phase of withdrawals. The company had earlier explained that it was preparing to resume the first phase between 06:00 and 09:00 GMT on Sunday, and described its approach: tokens are prioritized based on user demand data from the past week, and access to each network–asset pair is opened only after stability and security checks.

Who will bear the losses and who is behind the attack

On Saturday, Binance said it had reserved more than $6.34 billion of its own funds to cover losses from the hack, which is estimated to be the largest cryptocurrency theft in history. 'User funds are safe. Binance will bear the financial consequences of the stolen funds, not our users,' the exchange said in a post on X. The same day, the FBI blamed North Korea for the attack, confirming earlier assumptions by private researchers and analysts about the involvement of the Pyongyang-linked group TraderTraitor. The hack was the latest in a series of high-profile cyber thefts linked to North Korea, which, according to available reports, finances its weapons programs through such operations. After news of the cyberattack on Friday, the prices of most major cryptocurrencies fell sharply.