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Binance resumes phased withdrawals after $6.3 billion theft

Binance said Sunday it had begun phased withdrawals after a $6.3 billion theft from its wallets, saying it had covered most stolen assets with company funds, TechCrunch, CNBC and CBS News reported.

By AI reporterRuth Calloway · WhatsNewPaper Desk
What's new
  1. TechCrunch and CBS News are now reporting this
  2. New headline Was: “Binance resumes withdrawals following $6.3 billion hack, says 90% of stolen user assets are covered”
  3. Our desk filed its story
  4. CNBC is now reporting this
  5. New headline Was: “Binance resumes bitcoin withdrawals after covering bulk of stolen $6.3 billion”
1 earlier update
  1. New headline Was: “Binance to resume withdrawals after recovering bulk of $6 billion in stolen funds”

Cryptocurrency exchange Binance said Sunday it had begun a phased restart of withdrawals after hackers stole about $6.3 billion from its wallets, and that it was using company funds to replace most of the missing assets rather than passing losses to customers1,2,4.

TechCrunch reported Binance froze deposits and withdrawals after the theft and later said it had covered 95% of the stolen assets, with remaining tokens described as less liquid and slower to source at scale1. CNBC, in an earlier update, said coverage stood at about 90% and stressed that figure meant restored backing, not recovery from the attacker4. CBS News, citing AFP, also used a 90% coverage figure2.

Binance said it would bear the financial impact and that losses would not be passed to users1,4. CNBC reported the exchange was tapping its Secure Asset Fund for Users, a portion of its Futures insurance fund, and its corporate treasury4.

Withdrawals were to resume in phases by network and asset1,2,4. CBS said that as of 5 a.m. Eastern on Sunday, Binance had restored withdrawals for Bitcoin, Ethereum, BNB, XRP, Base, Doge and Optimism, with more networks to follow after security checks2. TechCrunch said the company’s status page still showed a mix of normal, partial and full suspensions, including Bitcoin withdrawals listed as partially suspended1.

TechCrunch reported Binance later said that between 6 a.m. and 3:30 p.m. UTC it processed $4.6 billion in withdrawals and $1.0 billion in deposits, a $3.6 billion net outflow equal to 2.1% of assets under management1. The company said users should expect delays because of traffic and that a fuller incident report would follow when its investigation is complete1.

The FBI said Saturday that North Korea was responsible for a theft of more than $6 billion from Binance on or about Oct. 29, 2026, attributing it to a group known as TraderTraitor1,2,4. CBS reported the bureau said stolen assets were being converted primarily into Ethereum and urged companies to block related addresses2. How the attackers got in remains unclear; CNBC said Binance had initially pointed to a possible compromised DevOps engineer’s laptop4.

Sources

  1. TechCrunchBinance resumes withdrawals following $6.3 billion breach
  2. CBS NewsBinance resumes withdrawals for some major cryptocurrencies after $6 billion heist
  3. ReutersBinance resumes bitcoin withdrawals after covering bulk of stolen $6.3 billion
  4. CNBCBinance resumes withdrawals following $6.3 billion hack, says 90% of stolen user assets are covered

Read the original at TechCrunch ↗

How it’s being reported

4 sources

First reported by ReutersReuters

Where they agree

  • Binance began phased withdrawals on Sunday after a multi-billion-dollar theft from its wallets.
  • The exchange said it would cover user losses with its own funds.
  • The FBI attributed the theft to North Korea’s TraderTraitor.

Where they differ

Share of stolen assets Binance said it had covered

Side by side

Each outlet's article broken down by our newsroom, in our own words. To read what they wrote, use the button under each one.

TechCrunchTechCrunch

Binance resumes withdrawals following $6.3 billion breach

95% coverage, company pledge not to pass losses to users, and Sunday net outflows

Binance said it started phased withdrawals after covering 95% of assets stolen in a $6.3 billion incident and processed a $3.6 billion net outflow Sunday.

Leaves out FBI statement details on laundering methods

95% coverage, company pledge not to pass losses to users, and Sunday net outflows

What it reports

  • Binance froze deposits and withdrawals after hackers stole $6.3 billion from Binance wallets.
  • The exchange said it had covered 95% of stolen assets and was still buying less liquid remaining tokens.
  • It said it would bear the financial impact and not pass losses to users.
  • Network status Sunday still showed mixed partial and full suspensions; Bitcoin withdrawals were listed as partially suspended.

Leaves out FBI statement details on laundering methods

Read the original at TechCrunch Read the full article at TechCrunch
CBS NewsCBS News

Binance resumes withdrawals for some major cryptocurrencies after $6 billion heist

Which coins reopened first and the FBI attribution

CBS, citing AFP, said Binance reopened withdrawals for several major coins and that the FBI named North Korea’s TraderTraitor as responsible.

Leaves out Sunday outflow figures and SAFU/treasury funding mix

Which coins reopened first and the FBI attribution

What it reports

  • The exchange said it would cover 90% of losses using company funds, according to CBS.
  • As of 5 a.m. Eastern, Binance said it had restored withdrawals for Bitcoin, Ethereum, BNB, XRP, Base, Doge and Optimism.
  • The FBI said Saturday that North Korea was responsible for a theft of more than $6 billion on or about Oct. 29, 2026, and named TraderTraitor.
  • The FBI said it had seen stolen assets converted into Ethereum and urged firms to block related addresses.

Leaves out Sunday outflow figures and SAFU/treasury funding mix

Read the original at CBS News Read the full article at CBS News
CNBCCNBC

Binance resumes withdrawals following $6.3 billion hack, says 90% of stolen user assets are covered

How Binance funded coverage versus recovering stolen coins, and incomplete investigation

CNBC reported Binance had restored about 90% backing from SAFU, a futures insurance fund and treasury, not that it recovered funds from the attacker.

Leaves out Sunday processed withdrawal totals

How Binance funded coverage versus recovering stolen coins, and incomplete investigation

What it reports

  • Binance said it resumed withdrawals of bitcoin and other cryptocurrencies after about $6.3 billion was taken from hot wallets.
  • It said it had restored backing for about 90% of affected assets, which is not the same as recovering funds from the attacker.
  • Binance said it tapped SAFU, part of its Futures insurance fund, and corporate treasury.
  • It listed several large tokens as fully backed 100% and said remaining tokens were less liquid.
  • How the attack happened remains unclear; Binance initially pointed to a possible compromised DevOps laptop.

Leaves out Sunday processed withdrawal totals

Read the original at CNBC Read the full article at CNBC