The company reported that 95% of the pilfered funds have been recovered or covered by its internal reserves. Efforts continue to secure the remaining, less liquid assets, a process the exchange notes requires additional time to source at scale. Management emphasized that the decision to halt operations was a necessary precaution to contain the damage and perform rigorous security audits across its infrastructure.
Binance Restores Withdrawals After Massive $6.3 Billion Security Breach
After a devastating $6.3 billion theft emptied wallets and forced a total freeze on transactions, Binance has begun a phased restoration of withdrawal services. The exchange, which previously identified North Korean hackers as the perpetrators, maintains that it will shoulder the entire financial burden of the stolen assets to protect users.
As of Sunday morning, the platform’s network status remained inconsistent. While some services have returned to normal, others, including Bitcoin and Ethereum transactions, are still experiencing partial suspensions or delays due to high traffic volume. The FBI has officially attributed the attack to the North Korean group TraderTraitor, alleging that the hackers are actively laundering the stolen cryptocurrency, primarily through Ethereum. Binance has pledged to release a comprehensive technical report once its internal investigation concludes.
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