The Federal Bureau of Investigation identified North Korea's TraderTraitor group as the culprit behind the $6 billion breach, observing operatives converting stolen holdings into ethereum. Binance is preparing to restore user transactions for primary assets like bitcoin and ether during a designated Sunday morning window. Securing the remaining 5% of stolen assets will take longer due to their illiquid nature. Meanwhile, North Korean diplomatic missions have not responded to inquiries regarding the law enforcement findings.
Key points
Binance plans to reopen customer withdrawals between 0600 and 0900 GMT on Sunday followin…: Binance plans to reopen customer withdrawals between 0600 and 0900 GMT on Sunday following asset recovery efforts.
Law enforcement officials observed the cyber attackers converting the stolen cryptocurren…: Law enforcement officials observed the cyber attackers converting the stolen cryptocurrency into ethereum for expected laundering.
North Korean diplomatic missions in Geneva and China did not respond to requests for comm…: North Korean diplomatic missions in Geneva and China did not respond to requests for comment regarding the state-sponsored cyber theft.
Sources checked by our analysis pipeline: 1
Binance said phase would start between 0600 and 0900 GMT on Sunday and include bitcoin, ether, BNB, Solana, XRP, dogecoin and other tokens.
The remaining 5% of stolen tokens consists of assets that are less liquid and may take longer to source in the required amounts, Binance posted on X late on Saturday.
Also Read: FBI says North Korea behind $6 billion crypto theft from Binance
The FBI said on Saturday the North Korean state-sponsored unit known as TraderTraitor was responsible for the attack.
Pyongyang has for years denied using state-linked cyber units for espionage, financial theft and revenue. Its mission in Geneva and embassy in China did not respond to requests for comment.
Members of the unit were observed by law enforcement converting stolen assets into the cryptocurrency ethereum, the FBI said in a statement, adding that it expects "further laundering" of the assets through the use of related technology.
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Platform users can once again transfer their assets after the exchange successfully absorbed the financial impact of a massive security breach. The swift resolution aims to stabilize operations and reassure account holders following one of the largest cyberheists on record. Full access to the digital asset has now been re-established for customers worldwide.