Binance resumes withdrawals for some cryptocurrencies after $6B heist

Binance, the world's largest cryptocurrency exchange by daily trading volume, has resumed withdrawals for some major cryptocurrencies after a $6 billion theft, CBS MoneyWatch reported. The company had suspended withdrawals following the hack but began phased restoration starting Sunday, with Bitcoin, Ethereum, BNB, XRP, Base, Doge, and Optimism now available for withdrawal.

The FBI has attributed the cyberattack to a North Korea-affiliated group called TraderTraitor, confirming suspicions from private investigators and analysts. This group was previously linked to a $1.5 billion theft from the Bybit platform in February last year.

Following the hack, Binance announced it would cover 90% of the losses using company funds to buy tokens to replenish the stolen assets. The FBI noted that TraderTraitor actors were converting stolen assets into Ethereum and expected further laundering through decentralized finance and instant swap services.

The FBI urged private sector entities to block transactions involving addresses used by TraderTraitor actors to launder the stolen assets. Binance plans to continue restoring withdrawals for additional assets and networks as security checks are completed.