Binance, the world's largest crypto exchange by daily trading volumes, has resumed withdrawals after a major hack that impacted over $6 billion in funds. The platform temporarily suspended withdrawals following the attack but began reopening them in phases starting Sunday. The first phase focused on the Bitcoin (BTC) network, with Binance prioritizing tokens based on user demand from the past week.
The company announced it had allocated more than $6.34 billion from its own funds to cover the losses from the hack, which is believed to be the largest crypto heist ever recorded. Binance assured users that their funds remain safe and that the financial impact of the stolen funds would be absorbed by the company, not its users.
The FBI has accused North Korea of orchestrating the attack, confirming earlier suspicions that a Pyongyang-affiliated group called TraderTraitor was responsible. This hack is part of a series of high-profile cyber thefts linked to North Korea, which reportedly uses these funds to support its weapons program. News of the cyberattack led to a sharp decline in the prices of most major cryptocurrencies on Friday.