Binance announced plans to gradually restore customer withdrawals on Sunday, following a massive cyberattack that targeted over $6 billion from the exchange. The incident, described as the largest cyber theft ever recorded, prompted the platform to halt all transactions on Friday morning in Asia.
The world’s largest crypto exchange revealed that phase one of withdrawals would commence between 2 p.m. and 5 p.m. Singapore time, as stated in an official notice. The phased approach aims to ensure security and stability after the breach.
Hackers attempted to exploit vulnerabilities in the system, making it one of the most significant security challenges faced by a major digital-asset platform. Binance’s decision to resume withdrawals in stages reflects its cautious approach to mitigating further risks.