Binance resumed crypto withdrawals after a major hack that affected over $6 billion in funds. The exchange, the world's largest by daily trading volumes, had suspended user withdrawals following the attack. The company announced the resumption of the first phase of withdrawals, with Bitcoin network access restored in the initial batch.
The FBI confirmed Saturday that North Korea was responsible for the $6.3 billion crypto theft, linking it to the state-sponsored group TraderTraitor. The FBI reported that stolen assets were converted into Ethereum and expected further laundering through decentralized finance tools. The FBI urged private entities to block transactions linked to the stolen assets.
Binance has set aside over $6.34 billion in company funds to cover losses from the hack, vowing to absorb the financial impact without affecting users. The exchange is proceeding with a phased approach to resume withdrawals, prioritizing user demand and ensuring security checks before restoring access. The incident marks the largest recorded crypto heist, with the FBI and private investigators pointing to North Korea's involvement.
US President Donald Trump expressed uncertainty about North Korea's role, stating it was unclear whether the attack was linked to the country. The hack has caused significant market disruption, with crypto prices falling on Friday, while Binance reassured users that their funds remained safe.