Binance Gradually Restores Withdrawals Following $6.3 Billion Crypto Hack

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After hackers stole $6.3 billion in cryptocurrency, Binance has covered 95% of the losses and is gradually resuming withdrawals with ongoing security measures.

Binance, one of the world’s largest cryptocurrency exchanges, has announced a phased resumption of user withdrawals following a major security breach that resulted in the theft of $6.3 billion worth of crypto assets. The company initially froze all deposits and withdrawals to contain the incident and to assess its impact. According to Binance’s update on November 1, 2026, 95% of the stolen assets have already been recovered or covered. The exchange is actively working to reclaim the remaining portion, which mainly consists of less liquid assets that are harder and slower to source at the scale required.

The company reassured users that it will bear all financial consequences arising from the hack, emphasizing that no losses would be transferred to its customers. The decision to temporarily suspend withdrawals was described as a difficult but necessary step to protect users and maintain system integrity while security checks and service restorations were underway.

Withdrawals are being restored in stages depending on the cryptocurrency network and asset type. For example, at the time of the announcement, Bitcoin withdrawals and deposits remained partially suspended, whereas Ethereum deposits were operating normally, with Ethereum withdrawals partially restored. Binance cautioned users about possible processing delays due to increased traffic as services resume.

This incident involved a hacking group linked to North Korea, known as TraderTraitor, which the FBI identified as responsible for converting the stolen assets primarily into Ethereum, with ongoing efforts to launder the funds. Binance plans to publish a comprehensive incident report after completing its investigation and has pledged to continue enhancing its security measures throughout the recovery process.

The restoration of withdrawals marks a significant milestone in Binance’s response to one of the largest crypto heists in history, reflecting ongoing efforts to stabilize its platform and safeguard user assets going forward.