Binance to resume phased withdrawals after covering 95% of $6.3bn hack

Binance resumes withdrawals after covering vast majority of $6.3bn theft

Binance, the worlds largest cryptocurrency exchange, said it will begin a phased resumption of withdrawals after covering 95 per cent of the roughly $6.3 billion in tokens stolen in what has been described as the largest digital heist in history. The exchange announced the plan on X (formerly Twitter) late on Saturday and said the first phase of withdrawals would start between 6am and 9am GMT on Sunday.

The initial rollout will allow withdrawals of major, liquid coins including Bitcoin, ether, Binance Coin (BNB), Solana, XRP and dogecoin, among other digital assets. Binance said the remaining 5 per cent of stolen tokens are less liquid assets that may take longer to source in the volumes required for full customer restitution.

Binance said the decision to suspend withdrawals earlier this week was a precaution while its teams worked to contain the incident loss, assess its impact, restore affected services and complete security checks. The exchange added that deposit services remained open and were not affected by the incident.

In public posts, Binance emphasised that it will absorb the financial impact of the theft rather than passing losses on to customers. As we have said throughout this incident: user funds remain safe, the company said, noting teams had carried out security assessments and readiness checks before beginning to restore affected services.

The FBI on Saturday attributed the attack to TraderTraitor, a North Korean statesponsored hacking unit. Law enforcement observed members of the group converting stolen assets into ether and said it expected further laundering through linked technology and mixing techniques.

The scale of the theft has renewed scrutiny of security across the cryptocurrency industry. Regulators, exchanges and custodians have faced a string of highprofile incidents over the past decade from the collapse of Mt. Gox in 2014, through FTXs implosion in 2022 and other large thefts attributed to state actors. The FBI has previously linked a $1.5 billion theft from another exchange, Bybit, to North Korean actors.

Binance did not provide a precise timetable for when the remaining, less liquid assets will be restored for withdrawal, saying it will take longer to source some tokens in the necessary amounts. The exchange said teams would continue to carry out security and readiness checks as the restoration proceeds progressively.

Market reaction to the hack and Binances response was visible across crypto prices and trading sentiment, but the exchanges pledge to cover most of the loss and to resume withdrawals in stages aims to limit contagion and reassure users. For now, deposits remain active and Binance says customer funds are protected while investigations and remediation continue.

Updated: November 02, 2026, 4:59 AM.