{"id":902517,"date":"2026-11-01T21:06:12","date_gmt":"2026-11-01T21:06:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/902517\/"},"modified":"2026-11-01T21:06:12","modified_gmt":"2026-11-01T21:06:12","slug":"binance-withdrawals-resume-following-6-billion-hack","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/902517\/","title":{"rendered":"Binance withdrawals resume following $6 billion hack"},"content":{"rendered":"

\n Binance, the world\u2019s largest cryptocurrency exchange, said it has resumed withdrawals after a record $6.3 billion was stolen from its digital wallets last week<\/a>.\n <\/p>\n

\n \u201cToday, we\u2019re beginning the phased resumption of withdrawals, taking a careful approach to ensure services return safely and securely,\u201d Binance co-CEO Richard Teng posted<\/a> on X early Sunday. \u201cOur commitment remains clear: Binance will absorb the financial impact of the stolen funds, not our users.\u201d\n <\/p>\n

\n The company has resumed withdrawals for 15 digital currencies<\/a> \u2014 including Bitcoin, Solana and Ethereum \u2014 as of 7:36 a.m. ET. Binance will \u201ccontinue to restore additional assets and networks in phases as security checks are completed.\u201d The phases are being prioritized based on user demand over the past week, the company noted.\n <\/p>\n

\n Binance said it had processed around $4.6 billion in withdrawals and $1 billion in deposits by 10:30 a.m. ET. The company said it is testing its remaining systems and assets.\n <\/p>\n

\n \u201cWe know how important safe and reliable access to your funds is and will share details of the next phase as soon as we can,\u201d Binance wrote<\/a>. \u201cRest assured that market conditions are stable.\u201d\n <\/p>\n

\n Some users may face delays or longer processing times, the company warned. Binance had suspended withdrawals on Friday after its system was hacked.\n <\/p>\n

\n \u201cWe did not take this decision lightly. We understand how important reliable access to withdrawals is for our users,\u201d the company wrote<\/a> in a statement on X.\n <\/p>\n

\n About 95% of the stolen amount is covered, the company said, as it has planned to \u201cfully absorb the financial impact of the stolen funds, not users.\u201d Binance said it used its Secure Assets Fund for Users \u2014 a reserve fund of roughly $1 billion in Bitcoin \u2014 as well as its corporate treasury and Futures insurance fund to cover the losses.\n <\/p>\n

\n The 5% of tokens that have not been covered are \u201cless liquid in the market and take (a) longer time to source at the required scale\u201d than the top 10 coins, such as Bitcoin and Solana. Those top 10 digital currencies are \u201cfully backed 100%.\u201d\n <\/p>\n

\n The Federal Bureau of Investigation on Saturday reported that TraderTraitor \u2014 cyber actors sponsored by North Korea since at least 2020 \u2014 were responsible for the theft<\/a>. The FBI said TraderTraitor actors are converting the currencies, mainly into Ethereum.\n <\/p>\n

\n \u201cWe sincerely thank (the FBI) for their strong support during this challenging time,\u201d Binance posted on X in response to the bureau\u2019s update.\n <\/p>\n

\n Binance said it has conducted security reviews, worked with law enforcement and partners to recover the funds and monitored risks following the breach.\n <\/p>\n

\n \u201cWe recognize how difficult this period has been for our users and the broader Binance community,\u201d the company said in a statement. \u201cThank you for your patience, understanding, and continued trust as our teams worked through this incident with the seriousness it required.\u201d\n <\/p>\n

\n Binance also thanked industry partners for freezing and tracing stolen funds. A team of cryptocurrency firms had managed to freeze about $3 billion of the stolen assets.\n <\/p>\n","protected":false},"excerpt":{"rendered":"Binance, the world\u2019s largest cryptocurrency exchange, said it has resumed withdrawals after a record $6.3 billion was stolen…\n","protected":false},"author":2,"featured_media":902518,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[28],"class_list":["post-902517","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/902517","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=902517"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/902517\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/902518"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=902517"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=902517"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=902517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}