Binance targets full reopening of withdrawals by next week

Binance has announced its intention to fully reopen withdrawals across all remaining networks and assets by the end of next week, as its operations resume normalcy after a major security breach. The exchange revealed on Saturday that it has already reopened withdrawals for 87 networks. This follows the successful recovery of 95% of the $6.3 billion in stolen tokens, a theft Binance and the FBI attribute to North Korea.

The attack, which unfolded over several months, is believed to have been orchestrated by a North Korean group known as "TraderTraitor". The incident has sparked discussions about the security of digital assets and the potential impact on Binance, which has pledged to fully reimburse affected customers. Notably, Binance's finance chief left the company shortly after the heist to pursue new opportunities, and was subsequently replaced by Justin Yek, a veteran in the finance sector who previously served as vice-president of finance at Airwallex.