Cryptocurrency exchange Binance announced early on Sunday that it would begin allowing withdrawals in a phased process. The company froze all deposits and withdrawals after hackers stole $6.3 billion worth of crypto from Binance wallets. In its latest update, Binance said it has now covered 95% of the stolen assets, and it’s still working to buy the “remaining affected assets,” which are “less liquid in the market and take longer time to source at the required scale.” “Our commitment remains unchanged: Binance will bear the financial impact of the stolen funds,” the company added.
As of Sunday morning, the company’s network status page showed a mix of normal, partially suspended, and fully suspended statuses — for example, Bitcoin withdrawals and deposits are still listed as partially suspended, while Ethereum deposits are normal and withdrawals are partially suspended. The company also said users should expect “temporary delays or longer processing times due to traffic volume.” “Resuming withdrawals is a major milestone, but our work continues,” Binance said. Binance previously blamed North Korea hackers for the breach.
On Saturday, the FBI said that a North Korean group known as TraderTraitor was responsible, and that the group was converting the assets primarily into Ethereum, with further laundering likely.
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