Binance Resumes Withdrawals After North Korean Hack

Binance, the largest cryptocurrency exchange globally, has begun allowing customers to withdraw funds again following a massive security breach.

The company suspended services on Thursday after hackers stole approximately $6.3 billion in digital assets. This event marks the largest recorded theft in the industry's history. Withdrawals for major currencies like Bitcoin and Ether, as well as specific stablecoin services, are returning in stages.

The attack unfolded over several days. Intruders accessed the network on Thursday, prompting an immediate halt to outgoing transactions. By Sunday, Binance reported that it had replaced about 95 percent of the compromised assets. The firm stated on X that it would cover the financial cost of the loss, ensuring that the impact does not fall on user balances.

US authorities moved quickly to identify the perpetrators. The FBI announced on Saturday that North Korea was responsible for the theft. Investigators labeled the operation as activity by the cyber group known as TraderTraitor. The agency noted that attackers primarily converted the stolen value into Ether. They expect further laundering through decentralized finance platforms and instant exchange services.

This is not the first time the FBI has linked North Korea to a major exchange hack. In February 2025, the same actors were blamed for a $1.5 billion theft from Bybit. Regarding the current breach, Binance initially suggested a compromised employee laptop allowed entry. Later reports indicated additional points of breach existed.

Binance warned that high demand may cause delays as services normalize. Customers experiencing failed transactions were advised to wait briefly before retrying. The company continues to work with law enforcement to trace and recover the missing assets. A detailed report on the incident is scheduled for publication once the internal investigation concludes.