Binance resumes withdrawals after $6.3 billion hack; FBI links North Korea

· Tech · United States · North Korea

Binance, the world's largest crypto exchange, resumed processing withdrawals on Sunday morning after a historic $6.3 billion hack on October 29, and said it had now covered 95% of the stolen assets. Crypto analytics platform DefiLlama tracked a $5.8 billion net outflow of assets after withdrawals reopened, about 3% of the exchange's holdings. The FBI attributed the heist to North Korea, labeling the activity "TraderTraitor" and saying actors linked to the hack were converting tokens to Ethereum and preparing for further laundering. The breach is the largest crypto heist on record and puts the security practices of centralized exchanges and the industry's exposure to state-backed cyber theft back in focus. Binance's ability to cover almost all stolen assets will shape how customers and regulators judge its response.

Why it matters：The record breach and its North Korea attribution sharpen scrutiny of centralized exchange security and the growing threat of state-backed crypto theft.

Key points

  • The hack totaled $6.3 billion, the largest crypto heist on record.
  • Binance said it has covered 95% of the stolen assets.
  • DefiLlama recorded a $5.8 billion net outflow after withdrawals resumed.

Sources (original reporting)

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