Binance users pull $5bn as crypto exchange restarts services after heist
Binance has resumed withdrawals for major cryptocurrencies after a record $6.3 billion theft from its digital wallets last week. Users have since pulled $5 billion from the exchange. The FBI attributes the attack to a North Korean state-sponsored group known as TraderTraitor. Binance reports that 90% of the losses are covered. The exchange stated that the attackers spent months planning the operation using fake job interviews, compromised internal tooling, and laptop infections to gain access.
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- ✓ Binance resumed withdrawals for some major cryptocurrencies after a $6.3 billion heist.
- ✓ Users withdrew $5 billion from the exchange after services restarted on Sunday.
- ✓ The FBI identifies North Korea as responsible for the hack.
- ✓ Attackers used fake job interviews, laptop infections, and compromised internal tooling over several months to plan the heist.
What changed
The FBI identified the North Korean group TraderTraitor as the party responsible for the theft.
Live updates
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Binance users withdraw $5bn following record $6.3bn heist
Binance has resumed withdrawals for major cryptocurrencies after a record $6.3 billion theft from its digital wallets last week. Users have since pulled $5 billion from the exchange. The FBI attributes the attack to a North Korean state-sponsored group known as TraderTraitor. Binance reports that 90% of the losses are covered. The exchange stated that the attackers spent months planning the operation using fake job interviews, compromised internal tooling, and laptop infections to gain access.
Why it matters
As the world's largest cryptocurrency exchange, a breach of this magnitude represents the biggest crypto hack to date. The incident highlights vulnerabilities in internal security protocols against state-sponsored actors. Recovery of funds and user trust remain central issues for the platform.
What is confirmed
- Binance resumed withdrawals for some major cryptocurrencies after a $6.3 billion heist.
- Users withdrew $5 billion from the exchange after services restarted on Sunday.
- The FBI identifies North Korea as responsible for the hack.
- Attackers used fake job interviews, laptop infections, and compromised internal tooling over several months to plan the heist.
Still unconfirmed
- The North Korean state-sponsored group TraderTraitor is responsible for the hack.
- Binance has covered 90% of the losses from the $6.3 billion theft.
- Strangers are begging the hacker for bitcoin.
What to watch next
- Confirmation of the total percentage of recovered or covered funds
- Further FBI evidence regarding the movement of the stolen assets
- Official response from North Korea regarding the TraderTraitor allegations
confidence 90%Sources used for this update (10)
- Fox Business — North Korea responsible for $6 billion Binance cryptocurrency hack, FBI says
- CBS News — Binance resumes withdrawals for some major cryptocurrencies after $6 billion heist
- WSJ — The Morning Risk Report: Binance Resumes Withdrawals After Suffering Biggest-Ever Crypto Hack
- Financial Times — Binance users pull $5bn as crypto exchange restarts services after heist
- CoinDesk — Strangers are begging the Binance hacker for bitcoin, one ‘help me bro’ at a time
- www.theguardian.com — Binance says 90% of losses from $6.3bn hack covered as FBI ...
- www.cnn.com — Binance withdrawals resume following $6 billion hack - CNN
- arstechnica.com — Binance says hackers who stole billions in crypto spent months planning heist
- mamul.am — Binance users pull $5bn as crypto exchange restarts services ...
- www.aljazeera.com — Binance restarts withdrawals after $6.3bn heist | Crypto News ...
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