Binance Restores RLUSD Withdrawals After $6.3B Hack
Key Summary
Binance has restored withdrawal functions for Ripple's RLUSD stablecoin on the Ethereum network as part of its phased recovery from a $6.3B hack.
Key Bullets
- Binance enabled withdrawals for Ripple's RLUSD stablecoin on the Ethereum network during the second phase of its service recovery plan.
- Public filings from the FBI identified North Korean hackers linked to the TraderTraitor operation as the perpetrators of the $6.3B breach.
- Exchange security teams warned traders to expect delays on asset networks while operational checks continue across multiple blockchain routes.
- Stolen funds from the October breach are being converted into Ethereum by attackers attempting to launder assets through DEX venues.
Binance Re-Enables RLUSD Stablecoin Withdrawals
Binance enabled withdrawals for Ripple's RLUSD stablecoin on the Ethereum network at 04:00 UTC Sunday following an operational update released by exchange management. The platform is executing a phased service recovery after hackers drained $6.3B in digital assets from cold and hot wallets on Oct. 29. Exchange order-book depth monitored by market participants showed immediate liquidity adjustments as traders tested the newly opened withdrawal gates. Operations resumed slowly.
The second phase of the restoration plan includes dozens of tokens across networks like Solana, Arbitrum, Base, and the XRP Ledger. Sourced updates from exchange administrators confirm that tokens such as Shiba Inu, Chainlink, and Ondo are now cleared for outgoing transfers on Ethereum. Security checks remain mandatory for every single asset pair before the system opens. Traffic congestion caused minor queue delays.
FBI Links Breach to North Korean Hackers
Public advisories published by the FBI on Oct. 31 formally attributed the $6.3B security breach to North Korean hackers operating under the TraderTraitor banner. Federal investigators confirmed that the threat actors are converting stolen holdings into Ethereum. The conversion strategy targets DEX pools and swap services to launder the proceeds. On-chain transaction records confirm the movement of funds.
Binance executives maintained that deposit functions remained operational while withdrawal pipes were shut down for emergency patches. Compliance teams traced the outflows in coordination with international blockchain forensics units. Funds moved continuously. The laundering attempts presented immediate challenges for exchange surveillance systems.
Traders Face Network Delays During Recovery
Exchange risk committees warned traders that asset restoration schedules remain subject to abrupt halts if verification protocols flag anomalies during processing. Additional tokens on the BNB Smart Chain, including native XRP assets, will enter the withdrawal queue once final code audits finish. Platform engineers reviewed transaction signatures manually. Automated safeguards caught several routing errors.
Market makers adjusted pricing models to account for lingering liquidity friction across restored trading pairs on both CEX and DEX venues. Trading desks monitored order execution speeds closely while regional server traffic spiked. Network congestion slowed down confirmation times. Liquidity returned in phases.
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