Binance Resumes Withdrawals After $6.3bn Hack, FBI Blames North Korea

 Image via [The Guardian](https://www.theguardian.com/business/2026/nov/01/binance-losses-covered-hack-fbi-north-korea-cryptocurrency). Binance resumed customer withdrawals for major cryptocurrencies such as Bitcoin and Ethereum after a record $6.3bn hack, following a phased reopening initiated on Sunday. The exchange initially froze withdrawals as it investigated the breach but announced it had begun restoring access after 2pm Singapore time. This move came amid growing concerns over the security vulnerabilities in the cryptocurrency sector. The FBI attributed the theft to North Korea's state-sponsored group TraderTraitor, also known as the Lazarus Group, and dated it to on or about October 29, 2026. The agency stated that it observed TraderTraitor actors converting stolen assets into Ethereum and warned private entities to block transactions linked to these addresses to prevent further laundering of stolen funds. Binance said it had replenished 90% of the stolen assets using company funds. The remaining 10% consisted of less liquid tokens that could take longer to buy. Separately, it said withdrawals for additional assets and networks would be restored in phases as security checks were completed. The platform said it had set aside about $6.34bn from its reserves, including a bitcoin reserve and futures insurance fund, to cover the losses. Richard Teng, Binance’s co-chief executive, emphasized that users would not bear the financial impact of the hack. BBC background reporting traced North Korean cryptocurrency theft back to 2017 and said it was estimated to generate half of the country's foreign currency income. The FBI previously attributed the February 2025 Bybit hack to TraderTraitor, according to that reporting. The BBC also described cryptocurrency theft as a source of revenue for North Korea's military, including its nuclear programme. Sources: [The Guardian](https://www.theguardian.com/business/2026/nov/01/binance-losses-covered-hack-fbi-north-korea-cryptocurrency) · [cbsnews.com](https://www.cbsnews.com/news/binance-crypto-heist-withdrawals/) · [The Guardian](https://www.theguardian.com/world/2026/oct/30/how-crypto-hacking-funds-isolated-north-korea-nuclear-programme) · [The Guardian](https://www.theguardian.com/us-news/2014/dec/19/north-korea-responsible-sony-hack-us-official)