Binance Resumes Withdrawals Post-Massive Hack

Binance is set to re-enable withdrawals in phases, less than three days after a cryptocurrency hack resulted in over $6 billion in stolen assets, marking the largest such theft by dollar value on record. The exchange has stated that the first phase of withdrawals will commence shortly, covering 15 major networks including Bitcoin, Ethereum, and BNB Smart Chain, with additional networks to follow as security checks are completed.

The Federal Bureau of Investigation (FBI) has officially attributed the massive exploit to North Korean hackers, identifying the operation as part of the state-sponsored cyber campaign known as "TraderTraitor." The agency noted that the attackers are actively attempting to launder the stolen funds, primarily converting them to Ethereum and utilizing decentralized finance platforms and instant swap services.

In response, the FBI, along with other US agencies, has alerted exchanges, DeFi platforms, and blockchain analytics firms to block transactions linked to the identified attacker addresses. Binance has assured users that it will cover the financial losses from the breach and has already replenished 95% of the affected assets through market and over-the-counter purchases, with user balances for major cryptocurrencies like BTC, ETH, and USDT fully backed.