Binance restarts withdrawals after $6.3bn heist
Summary
Binance began restoring customer withdrawals after suspending services following a cryptocurrency theft of about $6.3 billion. The exchange said it had replaced about 95 percent of the affected assets and would cover the loss; the FBI blamed North Korea for the attack.Key Facts
- Binance suspended some services after the attack on Thursday and began restoring withdrawals on Sunday.
- The exchange is reopening withdrawals in stages, including for Bitcoin, Ether and some stablecoins.
- Binance warned that high demand could delay transactions and told customers to retry failed transactions after a short wait.
- The company said it would absorb the financial impact of the stolen funds rather than pass it on to customers.
- The FBI said North Korea carried out the theft, identifying the activity as TraderTraitor.
- The FBI said attackers were converting the stolen assets mainly into ether and warned that more laundering could follow through decentralized finance platforms and instant crypto exchanges.
- Binance said a compromised employee laptop might have enabled the intrusion, but investigators later found additional breach points.
- Binance said its investigation is ongoing and that it plans to publish a detailed report when it is complete.
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