Binance resumes withdrawals for some major cryptocurrencies after $6 billion heist
Binance has begun a phased restoration of cryptocurrency withdrawals following a massive $6 billion heist. The FBI has attributed the attack to a North Korean-affiliated group known as TraderTraitor.
Why it matters
As the world's largest crypto exchange, this security breach represents a significant systemic risk to the digital asset market and highlights ongoing geopolitical threats to financial infrastructure.
Binance said Sunday it had resumed withdrawals for some major cryptocurrencies such as Bitcoin and Ethereal after more than $6 billion in assets were stolen from the cryptocurrency exchange.Binance is the world's largest crypto exchange by daily trading volumes. News of the hacking attack, which is thought to be the biggest-ever crypto heist, caused the prices of most major cryptocurrencies to fall sharply on Friday.However, the company has offered reassurances it would cover 90% of the losses from the attack using company funds to buy tokens to replenish a large portion of what was stolen.Binance suspended user withdrawals after the attack but said they would be resumed in phases, the first of which began on Sunday."First batch network now opened in phase one of withdrawals," the exchange posted on X.As of 5 a.m.
Headlinne story · 8 newsrooms
Binance Resumes Crypto Withdrawals After Record Billion Dollar Hack
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