Binance resumes withdrawals following $6.3 billion hack, says 90% of stolen user assets are covered

Binance said Sunday that it has resumed withdrawals of bitcoin and other cryptocurrencies following the record theft of around $6.3 billion in token assets from its hot wallets.

"First batch network now opened in phase one of withdrawals is $BTC bitcoin network," Binance said in an X post.

It later said withdrawals have also been restored for the Ethereum Network and BNB Smart Chain.

The exchange said Saturday that it has covered up to 90% of the assets in the heist announced Thursday.

Separately, the FBI said late Saturday that it has determined North Korea was responsible for the theft.

Binance also said it will continue to buy the remaining relevant token assets through market and over-the-counter channels until the covered amount reaches 100% for all tokens.

"All BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC are fully backed 100%," Binance said in a statement. "Binance will absorb the financial impact of these stolen funds, not our users."

The exchange said the outstanding 10% consists of tokens outside its top 10 that are "less liquid, which means they may take longer to source in the required amounts."

Binance said it is tapping its Secure Asset Fund for Users (SAFU), a portion of its Futures insurance fund, and its corporate treasury to replenish the assets.

"Our commitment remains the same: Binance will fully cover the financial impact of the funds stolen in this incident. We will continue to demonstrate this commitment through measurable progress, transparent reporting, and concrete actions," Binance said.

Its "next milestone" will be resuming withdrawal services for users by Sunday, subject to security checks, while the exchange continues its investigation into the attack, it said.