Binance Resumes Phased Bitcoin and Crypto Withdrawals After Record $6,360,000,000 Hack
Binance is reopening crypto withdrawals in careful phases after the biggest theft in the industry’s history.
The exchange paused withdrawals as a precaution during the October 29th incident, when an attacker drained approximately $6.36 billion across ten blockchains in roughly 20 minutes.
Binance says it has now covered about 95% of the impacted amount using its own resources with all major assets including Bitcoin, Ethereum and major stablecoins fully backed at 100%.
The company says user funds remain safe, and it will absorb the entire financial impact rather than passing losses to customers.
Deposits have remained open throughout.
The company says it plans to release a full post-incident report once the investigation concludes.
The FBI attributes the attack to TraderTraitor North Korea’s elite hacking unit based on robust on and off-chain intelligence.
This story was originally published by The Daily Hodl. Read the original article.
