The crypto exchange reopened access in phases on Sunday following a record digital theft. Binance said it will cover the losses and protect customers from costs.
Binance began allowing cryptocurrency withdrawals in phases early Sunday after hackers stole $6.3 billion in digital assets from its wallets, TechCrunch reported.
The restart comes after Binance moved to restore customer withdrawals and replace stolen tokens following the attack.
Phased reopening and network status
As of 5 a.m. Eastern Time on Sunday, the exchange posted on X that the “First batch network now opened in phase one of withdrawals,” according to CBS News. Binance said it restored withdrawals for Bitcoin, Ethereum, BNB, XRP, Base, Doge and Optimism. The company stated that it will restore more assets and networks in phases as technical checks finish.
Binance warned users to anticipate temporary delays or longer processing times because of heavy traffic volumes. On Sunday morning, the platform’s network status page displayed a mix of normal, partially suspended and fully suspended operations. Bitcoin withdrawals and deposits remained partially suspended. Ethereum deposits were listed as normal, while Ethereum withdrawals remained partially suspended.
Binance stated that it didn’t make the decision to freeze withdrawals lightly, acknowledging how important reliable access is for its customers. It described the move as a necessary precaution while teams worked to contain the losses, evaluate the impact, bring affected services back online and carry out security reviews. The company called the restart of withdrawals a major milestone, adding that it will continue strengthening platform safeguards while finishing the recovery process.
Asset replacement and user protections
Outlets differed on the exact share of stolen tokens Binance had covered. TechCrunch reported that Binance said it had covered 95% of the stolen assets, while CBS News reported the company gave reassurances it would cover 90% of the losses with corporate funds. Binance explained that it is still working to buy the remaining affected tokens because those assets are less liquid and take more time to source in large amounts.
Binance stated that users won’t have to pay for the theft. “Our commitment remains unchanged: Binance will bear the financial impact of the stolen funds,” the company said. It also noted that these losses won’t be passed on to customers.
FBI investigation and North Korea link
The breach occurred on or about October 29, 2026, when hackers pulled off a record $6.3 billion cryptocurrency theft from Binance wallets. News of the incident caused prices of most major cryptocurrencies to drop sharply on Friday, shaking Binance as the world’s largest crypto exchange by daily trading volumes.
Binance previously blamed North Korean hackers for the theft. On Saturday, the FBI confirmed that assessment, stating that North Korea was responsible for stealing more than $6 billion in virtual assets from Binance. The FBI statement confirmed suspicions raised earlier by private investigators and analysts, naming the Pyongyang-affiliated group TraderTraitor. The FBI advised that the Democratic People’s Republic of Korea was responsible for the theft of more than $6 billion in virtual assets from Binance on or about October 29, 2026. TraderTraitor was also blamed for a $1.5 billion theft from the Bybit platform in February last year.
The FBI said it watched TraderTraitor actors convert stolen funds primarily into Ethereum. Federal investigators expect the group will attempt to launder the proceeds through decentralized finance platforms and instant swap services. The bureau urged private companies to block transactions tied to addresses used by the group. Binance said it will release an in-depth incident report after its internal investigation is complete.
