The historic October 29 breach resulted from a multi-stage hacking endeavor that began months earlier in June. Binance has already restored withdrawal capabilities across 87 networks after covering the vast majority of the missing funds. Amid the fallout and ongoing restoration efforts, former finance chief Kaiser Ng stepped down and was replaced by Justin Yek. The exchange expects all remaining assets and networks to become fully accessible by the end of next week.
Key points
The platform has pledged to make all affected customers entirely whole following the unpr…: The platform has pledged to make all affected customers entirely whole following the unprecedented digital asset heist.
Access to platform funds is steadily returning with withdrawals already operational acros…: Access to platform funds is steadily returning with withdrawals already operational across 87 different networks.
Both federal authorities and internal investigators attribute the historic October theft…: Both federal authorities and internal investigators attribute the historic October theft directly to North Korea.
Sources checked by our analysis pipeline: 1
Nov 14 : Binance said on Saturday that it aims to reopen withdrawals for all remaining networks and assets by the end of next week, as operations normalise for the world's biggest cryptocurrency exchange after a security breach linked to North Korea saw $6.3 billion stolen from the platform last month.
"This week, we reopened withdrawals for 87 networks. We will aim to reopen withdrawals for all remaining networks and assets by the end of next week," the company said in an X post.
Binance resumed withdrawals in phases earlier this month, after covering 95 per cent of the $6.3 billion in tokens stolen from its platform in what experts describe as the largest cryptocurrency theft ever.
The FBI and Binance have said North Korea was responsible for the Binance hack, but Pyongyang has denied that. Blockchain investigation firms have attributed it to a North Korean group known as "TraderTraitor".
In its initial report on how hackers pulled off the heist, Binance detailed a multi-stage hacking endeavour that began in June and set off a series of security breaches culminating…
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The cryptocurrency exchange aims to have the service completely restored within that upcoming timeframe. Customers currently awaiting access can expect full functionality to return in the coming days. This targeted timeline represents the platform's planned window to resolve ongoing transaction limitations.