Platform users will regain access to their funds in phases starting Sunday morning, initially restricted to highly traded digital currencies like bitcoin, ether, and Solana. Binance assured affected accounts that they will be made whole, though recovering the remaining 5% consisting of illiquid tokens presents additional sourcing challenges. Meanwhile, law enforcement agencies are actively monitoring the movement of converted ether through swap services to disrupt ongoing laundering pipelines.
Key points
Global exchanges and industry participants must actively block transactions linked to kno…: Global exchanges and industry participants must actively block transactions linked to known hacker addresses to disrupt money laundering.
North Korean state-backed cyber units continue to pose significant operational threats to…: North Korean state-backed cyber units continue to pose significant operational threats to the centralized cryptocurrency exchange ecosystem.
Tracing illicit capital will grow increasingly complex as perpetrators divide funds into…: Tracing illicit capital will grow increasingly complex as perpetrators divide funds into smaller increments across decentralized platforms.
Sources checked by our analysis pipeline: 1
Binance, the world's largest cryptocurrency exchange, has said it will resume withdrawals in phases after securing 95% of the $6.3 billion in digital assets stolen from its platform in what is being described as the world's largest cryptocurrency heist.
The first phase of withdrawals will begin between 0600 and 0900 GMT on Sunday and cover bitcoin, ether, BNB, Solana, XRP, dogecoin and several other tokens, Reuters reported.
The exchange said the remaining 5% of the stolen assets comprised less liquid tokens that could take longer to source in the required quantities.
Binance announced the update in a post on X late on Saturday.
The Federal Bureau of Investigation (FBI) has attributed the cyberattack to TraderTraitor, a North Korean state-sponsored hacking unit.
The bureau said on Saturday that members of the group had been observed converting the stolen assets into Ethereum.
FBI links crypto heist to North Korean hacking unit
In a statement, the FBI identified TraderTraitor as responsible for the attack and said it expected further attempts to launder the stolen funds using related technology.
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