Binance to resume withdrawals after recovering bulk of $6 bil. in stolen funds

Binance, the world's largest cryptocurrency exchange, has announced it will resume withdrawals in phases after recovering 95% of the $6.3 billion in stolen tokens from its platform, according to the FBI. The phase of withdrawals will commence between 0600 and 0900 GMT on Sunday and will encompass a range of tokens including bitcoin, ether, BNB, Solana, XRP, and dogecoin.

The remaining 5% of stolen tokens consist of less liquid assets that may require additional time to source, as stated by Binance on the social media platform X on Saturday. The FBI has identified the North Korean state-sponsored unit, known as TraderTraitor, as the perpetrators of the attack. North Korea has consistently denied involvement in such cyber espionage, financial theft, and revenue generation.

The FBI's statement, however, asserts that TraderTraitor was responsible for the theft. The unit's operations have been observed by law enforcement converting stolen assets into ethereum, a cryptocurrency. The FBI anticipates further laundering of these assets through the use of related cryptocurrencies.