Binance Partially Resumes Bitcoin Withdrawals After $6.3 Billion Hack

Binance, the world's largest cryptocurrency exchange, has partially resumed withdrawal operations from its platform days after suspending them following a breach that caused the largest digital theft in history.

According to Reuters, the platform now allows Bitcoin withdrawals and announced that withdrawals for other cryptocurrencies will resume in stages.

According to an early announcement, the platform plans to gradually enable withdrawals for Ether, BNB, Solana, XRP, Dogecoin, and other tokens.

This step comes after the platform covered 95% of the value of the digital tokens stolen from its platform, amounting to $6.3 billion.

Binance clarified in a post on the X platform late Saturday that the remaining 5% of stolen tokens consist of less liquid assets and may take longer to provide in the required quantities.

The Largest Financial Heist Ever

The theft, which the US Federal Bureau of Investigation (FBI) attributed to North Korea, is linked to an attack that analysts say could be the largest financial heist ever, adding to a series of cryptocurrency thefts.

According to researchers at TRM Labs, attackers stole $2.9 billion worth of cryptocurrencies over the past year through nearly 150 attacks.

North Korea has denied for years using state-linked cyber units for espionage, financial theft, and revenue generation. Its mission in Geneva and embassy in China did not respond to requests for comment.

The bureau added in a statement that law enforcement agencies observed members of the North Korean "Trader Traitor" unit converting stolen assets into Ether cryptocurrency, expecting "further laundering" of assets using related technology.