Binance Resumes Withdrawals After Major Crypto Heist

Binance, the largest cryptocurrency exchange globally, has restarted withdrawals for bitcoin, ether, and several stablecoins as of November 1, following the recovery of 95% of the $6.3 billion stolen in a major cyber heist. The exchange reported that the initial phase of withdrawals would include 15 cryptocurrencies, such as bitcoin and dogecoin.

The FBI has attributed the attack to a North Korean state-sponsored unit known as TraderTraitor, which has been linked to previous cyber thefts. While analysts have largely blamed North Korea for the incident, U.S. President Donald Trump stated that the U.S. is still uncertain about the country's involvement.

Binance has used company funds to cover the losses, purchasing replacement tokens to mitigate the financial impact. Co-CEO Yi He indicated that approximately $6 billion was allocated from the company's reserves, including its Secure Asset Fund for Users (SAFU). The exchange has also collaborated with industry partners to freeze some of the stolen assets, with about $3 billion reportedly located as of October 30.

In a show of gratitude, Binance founder Changpeng Zhao thanked U.S. law enforcement for their assistance in tracking and freezing the stolen assets, emphasizing their role in stabilizing the market following the breach. Binance currently has 335 million registered users and reported approximately $162.8 billion in assets under custody as of its 2025 annual report.