Binance resumes bitcoin, ether withdrawals after covering bulk of stolen US$6.3 billion

Binance said it had covered US$6 billion of stolen cryptocurrencies by using company money to buy replacement tokens.

NEW YORK – Binance, the world’s biggest cryptocurrency exchange, resumed bitcoin, ether and some stablecoin withdrawals on Nov 1 and said others would follow in phases after covering 95% of the US$6.3 billion (S$8 billion) in tokens stolen from its platform in the world’s largest digital heist.

The heist, which the FBI has tied to North Korea and which analysts say may be the biggest financial robbery ever, adds to a string of crypto thefts. In 2025, attackers stole US$2.9 billion worth of cryptocurrency across nearly 150 attacks, according to researchers at TRM Labs.

Binance, which was founded in China, said the first phase of withdrawals would cover 15 crypto assets including bitcoin, ether, XRP and dogecoin.

Bitcoin withdrawals resumed shortly after 0600 GMT, while ether, BNB and some USDT and USDC stablecoin withdrawals were also restored.

Binance said it had covered US$6 billion of stolen cryptocurrencies by using company money to buy replacement tokens. The remaining 5% of stolen tokens consist of assets that are less liquid and may take longer to source in the required amounts, according to the exchange.

The FBI said on Oct 31 the North Korean state-sponsored unit known as TraderTraitor was responsible for the attack.

Pyongyang has for years denied using state-linked cyber units for espionage, financial theft and revenue. Its mission in Geneva and embassy in China did not respond to requests for comment.

Law enforcement observed members of the unit converting stolen assets into the cryptocurrency ether, the FBI said in a statement, adding that it expected “further laundering” of the assets through the use of related technology.

The bulk of the theft unfolded in around 20 minutes beginning late on Oct 29 and bore similarities to previous large attacks blamed on North Korea, according to US blockchain analysis firms TRM Labs and Chainalysis.

US President Donald Trump, however, said on Oct 31 that the US was still not certain if North Korea was involved.

“We don’t know if it’s North Korea – but if it is, we’ll talk to North Korea about it,” Trump told reporters in comments posted by a White House handle on X.