GoKawiilBinance restarts phased withdrawals after $6.3B hack, covers 95% of losses
Binance said it has begun resuming withdrawals in phases by network and asset type after freezing all deposits and withdrawals following a $6.3 billion theft from its wallets. The exchange said it has now covered 95% of the stolen funds and is still sourcing less liquid assets to cover the rest, pledging to absorb all losses itself rather than pass them to users. The FBI has attributed the breach to the North Korean hacking group TraderTraitor.
GoKawiil's interpretation of the reporting above, not reported fact.
The pledge to cover losses entirely out of pocket signals how much Binance values user trust after a breach of this scale, though the lingering partial suspensions on assets like Bitcoin and Ethereum suggest full recovery is still ongoing. The FBI's attribution to a North Korean state-linked group could intensify regulatory and law enforcement scrutiny of crypto exchanges' security practices and their exposure to sanctioned actors.
- Binance is resuming withdrawals in phases rather than all at once, varying by network and asset.
- The exchange says it has covered 95% of the $6.3 billion stolen and will bear all losses itself.
- The FBI has linked the breach to North Korean hacking group TraderTraitor.
Ledger Nano X Hardware Wallet — After a breach like this, keeping crypto on an exchange looks riskier than ever—a hardware wallet lets you hold your private keys offline, away from exchange hacks. The Ledger Nano X supports a wide range of cryptocurrencies and pairs with a mobile app for easy management on the go. It's a practical step toward self-custody for anyone rattled by news like Binance's $6.3 billion breach.
See Ledger Nano X Hardware Wallet on Amazon → Affiliate link — we may earn a commission on purchases, at no extra cost to you. Product picked by AI based on this article; it is not a tested recommendation.Source: techcrunch.com — Anthony Ha, 2026-11-01
Published there as: “Binance resumes withdrawals following $6.3 billion breach”
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