Binance opens first phase of withdrawals after $6.3 billion hack
Binance has reopened Bitcoin network withdrawals after a $6.3 billion hack that the FBI linked to North Korean operatives. Other networks will follow in stages.
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what happened
Binance said it has opened the Bitcoin network for withdrawals as the first step in a staged restart of its services. The exchange had halted withdrawals after an attack on Thursday, which the FBI attributed to North Korean operatives. The stolen amount was about $6.3 billion.
According to the company, assets will return in an order based on user demand over the past week, and each network and asset pair will pass stability and security checks first. Users are advised to check the withdrawal page and the network status page. Congestion, slower processing and temporary delays are expected, so a failed transfer should be retried later. Cointelegraph reported that on Saturday Binance said it had replenished 90% of the stolen assets, up from 80% a day earlier.
why it matters
For markets, the speed at which liquidity returns matters as much as the size of the hack. Reopening withdrawals reduces the risk of a panic and outflows from the exchange. Full restoration of confidence, however, depends on how quickly the remaining networks come back, so updates from Binance's official channels are worth following.
market impact
Bitcoin and crypto market: reopened withdrawals ease pressure around the largest exchange
- BTC pressure up — reopened withdrawals ease pressure on the largest exchange
tags
instruments
sources
- Binance says phase one of withdrawals opens after $6.3B hack — Cointelegraph, 1 November 2026 at 09:38 UTC
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