Binance has resumed cryptocurrency withdrawals in phases after a breach in which hackers stole $6.3 billion in crypto from its wallets. The company said it has covered 95% of the stolen assets and is still buying the remaining affected assets, which it described as less liquid and slower to source at the required scale.
Binance said it will bear the financial impact of the stolen funds. "These losses will not be passed on to users," the company said.
The company froze all deposits and withdrawals while its teams worked to contain the loss, assess its impact, restore affected services and complete security checks. Withdrawals will resume by network and asset type. As of Sunday morning, Bitcoin withdrawals and deposits were listed as partially suspended, and Ethereum withdrawals were partially suspended while Ethereum deposits were normal. Binance warned users to expect temporary delays due to traffic volume.
Binance previously blamed North Korean hackers. The FBI said on Saturday that a North Korean group known as TraderTraitor was responsible and was converting the assets primarily into Ethereum, with further laundering likely. Binance said it will publish a more in-depth incident report when its investigation is complete.