Binance Resumes Phased Crypto Withdrawals Following Record $6.36B Hack
Key Summary
Binance resumed crypto withdrawals in phased increments following a historic $6.36B exploit across ten blockchains on October 29th, according to official exchange disclosures. Corporate treasuries covered roughly 95% of the drained capital immediately. Deposits remained operational throughout the incident.
Key Bullets
- Binance resumed phased crypto withdrawals following an October 29th exploit that drained $6.36B across ten separate blockchains.
- Corporate treasury reserves absorbed roughly 95% of the total stolen capital to keep customer account balances fully backed.
- Federal Bureau of Investigation intelligence reports attribute the multi-chain drainage operation directly to North Korea unit TraderTraitor.
- Exchange management confirmed that user deposits stayed open throughout the incident while internal investigations continue toward completion.
Binance Reopens Phased Withdrawals After Hack
Binance restarted crypto withdrawals in strict phases Tuesday morning after an attacker drained $6.36B across ten blockchains in roughly 20 minutes on October 29th. Corporate balance sheets absorbed roughly 95% of the stolen capital using internal reserves. Major assets including Bitcoin and Ethereum remain fully backed at 100%. User funds stayed safe throughout the operational pause. Liquidity returned incrementally. Deposits continued functioning without interruption.
Exchange operators promised a full post-incident report upon completion of internal forensic reviews. Federal Bureau of Investigation intelligence filings attribute the multi-chain exploit directly to the North Korean hacking cell known as TraderTraitor. Traders tracked order-book depth closely. Execution speeds normalized across major trading pairs.
Federal Bureau Links Heist to North Korea
Federal Bureau of Investigation assessments published Tuesday trace the entire $6.36B multi-chain attack back to elite state-sponsored hackers in North Korea. On-chain transaction records confirm the attacker executed the drainage event across ten networks in twenty minutes. Compliance teams tracked capital movements through mixing protocols. Investigators gathered robust digital footprints.
Exchange executives chose to absorb the entire financial deficit rather than socialize losses across customer accounts. Corporate insurance pools and reserve funds covered the missing 95% of assets immediately. Market participants watched withdrawal queues shrink. Order books stabilized rapidly.
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