Business
Binance reopens withdrawals after $6 billion hack attempt
Hindustan Times·
Binance said it would resume withdrawals in phases on Sunday, two days after hackers attempted to drain more than $6 billion from the exchange. Phase one was set from 2 p.m. to 5 p.m. Singapore time. The FBI blamed North Korea's TraderTraitor unit. Binance said it will cover all losses. Bitcoin traded around $77,700 after a 1.4% dip.
Prism
What It Means For You
- Withdrawal windows for phase one were listed between 2 p.m. and 5 p.m. Singapore time on Sunday.
- Binance said customer losses from the attempt would be covered in full.
- Major coin prices were little changed after the cover pledge, the report said.
What's Happening
- The exchange halted withdrawals on Friday morning in Asia after disclosing the breach.
- Hackers tried to drain more than $6 billion in what was called the biggest cyber theft recorded.
- The FBI tied the attempt to TraderTraitor, also blamed for a 2025 Bybit exchange attack.
How Binance Said It Would Pay
- Co-CEO Richard Teng said ongoing revenue investment into cryptocurrencies funds the cover.
- Co-CEO Yi He said this year's revenue would completely cover the amount lost.
- Bitcoin, about 60% of sector market value, was near $77,700 after a 1.4% dip from pre-attack levels.
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