WORLDTECHBinance reopens Bitcoin withdrawals in first phase after $6.3B hack
Binance has begun phased withdrawals after suspending them following a hack of about $6.3 billion, which the FBI has attributed to North Korean operatives. The exchange said its Bitcoin network reopened in the first phase of the resumed service.
First phase opens on Bitcoin network
Binance said on X that the first batch of its network had opened in phase one of withdrawals, with Bitcoin as the asset concerned. The exchange had earlier announced on Sunday that it would roll out withdrawal services in stages, with each stage becoming available progressively.
Users told to expect delays
Binance advised customers to check the withdrawal page for their chosen asset and network, or to consult its network status page to confirm availability. The company warned that the phased rollout would likely bring some congestion, longer processing times and possible temporary delays, and recommended retrying a failed withdrawal after a short wait. Updates will be posted on its official X channel.
Recovery of stolen assets reported
Cointelegraph reported on Saturday that Binance had replenished 90% of the assets stolen in the attack, up from 80% a day earlier, and was on track to resume withdrawals on Sunday. Binance, a cryptocurrency exchange and financial services company based in the United Arab Emirates, had suspended user withdrawals after the attack on Thursday.
Open questions
- Will the remaining stolen assets be fully replenished before all withdrawals resume?
- When will withdrawals on networks other than Bitcoin become available?