Binance to resume withdrawals after $6.3 billion hack

Binance said it would begin restoring withdrawals in phases between 06:00 and 09:00 UTC on Nov. 1, after a security incident it estimates affected about $6.3 billion in crypto. The exchange’s recovery update says deposits remain open and Binance will absorb the financial impact.

Which withdrawals will Binance restore first?

The first phase covers withdrawals on 15 networks, including Bitcoin, Ethereum, BNB Chain, Solana and XRP, with supported tokens varying by network. Binance says it will add other networks and assets after completing readiness and security checks, and users may see delays during the rollout.

How did the incident happen?

Binance’s initial investigation suggests an attacker used a compromised DevOps engineer’s laptop to access a service container and submit unauthorized withdrawal transactions. The company said it found no evidence of a wallet private key leak, and that about $3 billion in affected assets had been frozen on-chain.

Binance says it has replenished about 95% of the impacted amount and is sourcing the remaining tokens, which it described as less liquid. It plans to publish a technical post-incident report after its investigation is complete.

Who does the FBI say was responsible?

The FBI attributed the theft to North Korean hackers known as TraderTraitor, according to Associated Press reporting. The bureau asked exchanges and blockchain firms to block transactions linked to specified addresses, and said the group was converting stolen assets primarily into ether.

Binance has not announced when all withdrawal services will be restored. The next milestones are the phased reopening beginning Nov. 1 and the company’s promised post-incident report.

References

• exchange’s recovery update — binance.com
• Associated Press reporting — apnews.com