Binance has begun resuming customer withdrawals in phases, including for Bitcoin and Ethereum, after saying it has covered 95 percent of the tokens stolen in the $6.3 billion hack it suffered on October 29, according to Reuters. The exchange froze withdrawals immediately after the attack and has spent the days since shoring up the shortfall with its own funds.
The FBI has formally attributed the theft to North Korea, naming the operation "TraderTraitor" and calling it the work of state-linked malicious actors. The agency said it observed the attackers converting stolen assets mainly into Ethereum and preparing them for further laundering.
Binance says it covered 90% of hack losses
In a separate update reported by Reuters, Binance said it had set aside more than $6.34 billion of company funds to cover the losses, putting it at roughly 90 percent of the total at that stage. The remaining 10 percent sits in less liquid tokens that are harder to convert quickly, which is why the exchange described the recovery as phased rather than complete.
The later figure of 95 percent suggests the gap has narrowed further, though Binance has not said how much of the remaining balance is still outstanding or what happens if those assets cannot be recovered.
FBI links the Binance heist to North Korea's TraderTraitor
According to Bloomberg, the FBI blames North Korea's elite hacking unit TraderTraitor for the attack. The same group was previously blamed for the $1.5 billion Bybit hack in 2025, a detail that ties this incident to a broader pattern of state-sponsored crypto theft.
The FBI's public statement offered few technical details or evidence beyond its attribution. It said it worked with the US Secret Service and IRS Criminal Investigation to track the funds, and warned that the stolen assets would likely be moved through decentralized finance and instant swap services in the coming stages.
