Binance Restores Withdrawals After $6.3 Billion Theft

Binance began restoring cryptocurrency withdrawals in phases on November 1, after suspending the service following a theft of more than $6.3 billion in virtual assets. The exchange said it had replaced about 95% of the affected assets and would cover the financial impact rather than pass losses to customers. The FBI said on October 31 that North Korea-linked cyber actors known as TraderTraitor were responsible for the theft. The agency said the attackers were converting stolen assets, primarily into ether, and urged cryptocurrency businesses to block transactions tied to identified addresses. The attribution comes from the FBI’s statement; Binance’s investigation into how the breach occurred remains ongoing. Binance said the withdrawal restart would proceed by asset and network as security checks were completed. Its first phase covered 15 digital currencies, including Bitcoin, Solana and Ethereum, with additional services to return as they passed readiness checks. The company warned that high traffic could cause temporary delays, and some networks remained partially or fully restricted during the phased restoration. The exchange said the remaining 5% of affected assets...