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Binance reopens bitcoin and ether withdrawals after $6.3B theft

Binance has reopened bitcoin and ether withdrawals in phases after a $6.3 billion theft, saying it has replaced 95% of the stolen assets as users regain access to funds.

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Binance reopens bitcoin and ether withdrawals after $6.3B theft

Binance resumed bitcoin and ether withdrawals on Sunday, reopening access in phases after hackers stole about $6.3 billion in crypto from the exchange. The company says it has replaced 95% of the stolen assets. The restart lets customers move funds off the platform again, while Binance continues security checks. Reuters reported on the phased restart and the recovery figure.

Which withdrawals are available again?

Binance’s first phase covers 15 tokens, including bitcoin, ether, some USDC and USDT stablecoins, and dogecoin, Reuters reported. The exchange said it is restoring withdrawals by network and asset as teams complete security and readiness checks.

In its recovery update, Binance listed bitcoin on the Bitcoin network and ether, USDT and USDC on Ethereum among the first assets to return. It said deposits remained open during the pause. Other networks and assets would be added when ready, and users could face delays as withdrawals resumed.

How much of the stolen crypto has Binance replaced?

Binance said it had covered about 95% of the affected amount by buying replacement tokens through market and over-the-counter channels. Over-the-counter trades are arranged directly between parties rather than through a public exchange. The company said the remaining 5% consists of less liquid tokens that take longer to source in large amounts.

The exchange said it would absorb the loss rather than pass it to customers. Reuters reported that Binance used money from its Secure Asset Fund for Users, its Futures Insurance Fund and its corporate treasury to buy replacement tokens.

What does the restart mean for customer confidence?

Customers withdrew a net $3.64 billion on Sunday, equal to 2.1% of Binance’s assets, Reuters reported, citing figures from the exchange. Binance said withdrawals had eased after an initial spike, while deposits remained substantial. Those flows offer an early sign of how customers responded when they could move funds again.

The FBI said North Korea’s TraderTraitor unit carried out the attack, according to Reuters. Binance said it had worked with law enforcement and industry partners to trace and freeze assets. The exchange said it plans to publish a fuller report after its investigation ends.

Sources