Binance, the world’s largest cryptocurrency exchange, has begun allowing customers to withdraw funds after suffering a record $6.3 billion cyberattack last Thursday. The company initially suspended withdrawals as it investigated the breach and worked to secure its platform. Withdrawals resumed on Sunday in a phased manner, starting with major tokens including ethereum, USDT, and USDC on the Ethereum blockchain, as well as assets on the BNB Smart Chain. Withdrawals for other tokens, such as dogecoin and solana, were restored thereafter.

In the hours following the reopening, Binance reported a net outflow of approximately $3.64 billion, representing about 2.1 percent of the $171 billion in assets the exchange held prior to the hack. The company noted that withdrawal volumes have since stabilized, while deposit activity remained strong. Users were warned to expect potential delays due to high traffic and ongoing security checks.

Binance has pledged to cover all losses resulting from the hack, drawing on company revenues and its Secure Asset Fund for Users (SAFU), an emergency reserve established in 2018. The exchange said it has replenished roughly 90 percent of the stolen assets, with efforts ongoing to acquire the remaining 10 percent, which consist of less liquid tokens and may take longer to source. Co-chief executive Richard Teng emphasized that the financial impact would not be passed on to customers.

The U.S. Federal Bureau of Investigation (FBI) has attributed the attack to a North Korea-linked hacking group known as TraderTraitor, believed to be connected to the Lazarus Group, which has a history of cyber theft including a $1.5 billion breach of the Bybit exchange in early 2025. The FBI reported observing the group converting stolen crypto assets into ethereum and warned that these funds were likely to be further laundered through decentralized finance platforms and instant swap services. Authorities have called on private sector entities to block transactions linked to addresses used by TraderTraitor.

Binance’s internal investigation revealed that the breach involved multiple points of entry, including a compromised engineer’s laptop and malware designed to erase evidence, complicating the investigation. The hack, described as a complex and coordinated operation, has drawn attention to North Korea’s growing capability to generate revenue through illicit cyber activities, despite international sanctions targeting its nuclear and missile programs.

The attack initially led to sharp declines in cryptocurrency prices: Bitcoin fell nearly 5 percent, ethereum dropped almost 6 percent, and Binance’s native token BNB tumbled close to 10 percent. However, major cryptocurrencies stabilized following the announcement of Binance’s phased withdrawal resumption and reimbursement plans.

Binance has worked with other cryptocurrency issuers and blockchain partners to freeze approximately $3 billion of stolen assets. The company expects to publish a detailed report on the incident as investigations continue in cooperation with law enforcement agencies. Industry experts noted that Binance’s rapid response and commitment to absorb losses highlight both the scale of the attack and the growing maturity of the cryptocurrency market.