Binance to resume withdrawals after recovering bulk of $6 bil. in stolen funds
Binance, the world’s biggest cryptocurrency exchange, said it would resume withdrawals in phases after covering 95 percent of the $6.3 billion in tokens stolen from its platform in the world's largest digital heist, which the FBI has tied to North Korea. Binance said phase would start between 0600 and 0900 GMT on Sunday and include bitcoin, ether, BNB, Solana, XRP, dogecoin and other tokens. The…
Binance, the world's largest cryptocurrency exchange, announced it will begin allowing withdrawals in stages after reclaiming 95% of the $6.3 billion in tokens stolen from its platform in the biggest digital heist in crypto history, according to the FBI. The resumption is scheduled to begin between 6:00 and 9:00 a.m. GMT on Sunday, with transactions for bitcoin, ether, BNB, Solana, XRP, dogecoin, and other tokens expected to restart.
The remaining 5% of stolen tokens are more difficult to recover and may require additional time to source the necessary amounts, Binance reported on X on Saturday. The FBI identified the North Korean state-sponsored unit, TraderTraitor, as responsible for the attack. Pyongyang, the capital of North Korea, has consistently denied any involvement of state-linked cyber units in espionage, financial theft, and revenue generation.
Neither the North Korean embassy in China nor its diplomatic missions in Geneva responded to inquiries about the FBI's allegations. FBI investigators observed the unit's operatives converting some of the stolen assets into Ethereum, the second-largest cryptocurrency by market capitalization. Additionally, the FBI anticipates that further laundering of the stolen assets will occur through the use of related cryptocurrencies.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
