Binance to resume withdrawals after recovering 95% of stolen funds

The FBI has implicated North Korea in orchestrating a staggering $6.3 billion cryptocurrency heist targeting Binance, identifying the state-linked hacking group TraderTraitor as the culprits. This ranks as the largest crypto theft ever recorded. The FBI, in collaboration with the U.S. Secret Service and the IRS criminal investigation division, has been monitoring the movements of the stolen digital assets.

The hackers were observed converting the stolen cryptocurrencies into Ethereum, with further laundering anticipated through decentralized finance platforms and instant cryptocurrency swap services. This marks the first official connection between North Korea and the Binance attack, following earlier conjectures. President Trump had previously stated on Friday that U.S. authorities were probing whether North Korean hackers were responsible for the theft.

Binance, the world's largest crypto exchange, announced that it had footed approximately 90% of the $6.3 billion loss. The exchange anticipates to resume customer withdrawals by Sunday as it undertakes recovery efforts. Binance further declared that it would bear the entire financial burden of the breach, assuring customers that they wouldn't suffer any losses.

This unprecedented heist has sparked fresh apprehensions regarding security in the crypto industry as digital asset platforms strive for wider institutional and retail acceptance. TraderTraitor has a history of involvement in several high-profile crypto attacks, including a $1.5 billion theft from Bybit in 2025. North Korean hackers have also been suspected in a separate crypto heist worth about $620 million in 2022.

The FBI's attribution comes at a time when there's a renewed discourse on potential diplomatic engagement between Washington and Pyongyang. Trump has suggested a potential meeting with North Korean leader Kim Jong Un, although he later expressed uncertainty about whether either side was seeking talks.