Binance Restarts Withdrawals After $6.3 bn Hack, FBI Points to North Korea

Binance has resumed withdrawals after a $6.3 bn hack that the FBI attributes to a North Korean state‑sponsored hacking group. The exchange said it has covered 95% of the stolen tokens through its insurance policy.

When Binance halted withdrawals, even the most patient crypto holder might have thought it was a new form of meditation. The world’s biggest exchange paused its wallet services after the massive heist, but the pause was only temporary.

The FBI traced the breach to a shadowy outfit known as TraderTraitor – a moniker that sounds more like a comic‑book villain than a real cyber‑crime group. The name appears in the agency’s attribution of the attack to North Korea.

Covering 95% of the $6.3 bn in stolen tokens is a rare move in the crypto world, effectively turning the exchange into a self‑insuring bank after a robbery.

Binance’s management issued a brief statement confirming that the withdrawal suspension was temporary and that its insurance had been activated to reimburse users.

North Korea’s alleged involvement adds to a growing list of state‑backed cyber operations targeting financial infrastructure, prompting regulators worldwide to rethink digital‑asset supervision.

As withdrawals roll back online, Binance’s swift response serves as a reminder that even in the wild west of crypto, a well‑timed insurance policy can turn a heist into a headline.