Binance Reopens Withdrawals After $6.3B Hack

Binance Resumes Bitcoin Withdrawals After Record Hack

Cryptocurrency exchange Binance has initiated phased withdrawals following a massive hack, which the FBI has attributed to North Korean operatives. The exchange announced the reopening of its Bitcoin network as the first step in resuming withdrawal services after the breach, which saw approximately $6.3 billion in funds compromised.

Binance had suspended user withdrawals on Thursday, the day of the attack. “First batch network now opened in phase one of withdrawals is $BTC bitcoin network,” the company stated on the social media platform X.

In a prior announcement on Sunday, Binance had outlined its plan to gradually reintroduce withdrawal services in stages. Further updates were promised on its official X channel.

The exchange detailed its strategy, stating, “We are taking a phased approach by prioritizing tokens based on the past week data of user demand, so that each network and asset pair can be restored carefully, with stability and security checks completed before access is reopened.”

Customers are advised to monitor the withdrawal page for their chosen asset and network, or consult the Binance network status page to verify availability.

Binance cautioned that during this phased rollout, users might experience network congestion, extended processing times, and potential temporary delays. The company suggested that if a withdrawal attempt is unsuccessful, users should try again after a brief interval.

Earlier reports indicated that Binance had recovered 90% of the assets stolen in the hack, an increase from 80% the previous day, and was on schedule to resume withdrawals on Sunday.