Binance resumes withdrawals after $6.3 billion hack

Binance has resumed withdrawals following its $6.3 billion hack, with customers withdrawing billions of dollars as services reopened.

The exchange began restoring access on November 1 for selected assets across 15 networks, including Bitcoin, Ethereum, Solana, and BNB Smart Chain. Withdrawal routes are opening individually as security checks are completed, with further tokens and networks to follow. Deposits remain operational.

Binance processed $4.65 billion in withdrawals and received $1.01 billion in deposits during the first nine and a half hours, resulting in $3.64 billion in net outflows, according to company figures reported by The Block. The exchange said withdrawal volumes had eased after an initial surge and were stabilizing.

The company says it has purchased replacement tokens covering approximately 95% of the affected assets using its own resources. It continues buying the remaining, less liquid tokens through exchanges and over-the-counter transactions. Recovering the stolen funds remains a separate effort.

As Durov’s Code reported on Friday, Binance reserved more than $6.34 billion to cover losses, excluding approximately $3 billion frozen with help from industry partners. The October 29 attack used several entry points, and investigators initially identified a compromised engineer’s laptop. Binance has pledged to absorb the losses and publish a detailed incident report.

The FBI officially attributed the theft to North Korean activity it tracks as TraderTraitor in an October 31 statement. Working with the US Secret Service and IRS criminal investigators, the bureau observed attackers converting stolen assets primarily into ether. It urged crypto services to block transactions involving identified wallets and funds originating from them as investigators work to prevent further laundering.