Binance resumes crypto withdrawals after major hack blamed on North Korea

Binance said Sunday that it had resumed withdrawals after a major hack that affected more than $6 billion in funds. Binance, which is the world's largest crypto exchange by daily trading volumes, had suspended user withdrawals after the attack. "First batch network now opened in phase one of withdrawals is $BTC bitcoin network," Binance said on X. The company said in an earlier update that it was preparing to resume the first phase of withdrawals between 0600 and 0900 GMT on Sunday. "We are taking a phased approach by prioritizing tokens based on the past week data of user demand, so that each network and asset pair can be restored carefully, with stability and security checks completed before access is reopened," it said. To display this content from X (Twitter), you must enable advertisement tracking and audience measurement. Binance said Saturday that it has set aside more than $6.34 billion in company funds to cover losses in the hack, which is thought to be the biggest-ever crypto heist. "User funds remain safe. Binance will absorb the financial impact of the stolen funds, not our users," it said on X. FBI says North Korea behind $6 billion crypto theft The FBI accused North Korea of being behind the attack on Saturday, confirming earlier suspicions from private investigators and analysts that a Pyongyang-affiliated group called TraderTraitor was behind the hack. "The Federal Bureau of Investigation (FBI) is releasing information advising the Democratic People's Republic of Korea (North Korea) was responsible for the theft of more than $6 billion USD in virtual assets from cryptocurrency exchange Binance, on or about October 29, 2026," the statement said. The FBI added that it had observed "TraderTraitor actors" converting stolen assets into Ethereum, and expected those assets to be laundered further by converting them using decentralized finance and instant swap services. It said it was urging private sector entities "to block transactions with or derived from addresses TraderTraitor actors are using to launder these stolen assets." US President Donald Trump, however, cast doubt on the North Korea's involvement in the hack. "I'm not concerned. We're learning about it. We don't know if it's North Korea," Trump told reporters at his residence in Florida late Saturday. The president often reflects with pride on summits he held with North Korean leader Kim Jong Un during his first term. The hack is the latest in a string of high-profile cyber thefts linked to North Korea, which has built a formidable hacking operation, generating funds believed to help finance its weapons program. News of the cyberattack caused the prices of most major cryptocurrencies to fall sharply on Friday. (FRANCE 24 with AFP)