Binance resumes withdrawals after a record $6.3bn hack that the FBI blames on North Korea
Summary
Binance was hit by a record $6.3bn hack on Thursday 29 October, which forced the cryptocurrency exchange to suspend withdrawals as it raced to fix the platform and investigate how hackers breached the system, City A.M. reported. Crypto prices fell on Friday as Binance sought to reassure customers that their funds were safe, and the exchange said it had covered 90% of the losses so far, The Independent reported on Saturday 31 October, The Guardian adding that the exchange expected withdrawals to resume on Sunday. The FBI blamed North Korea, The Independent, The Guardian and Euronews reported, The Independent writing that the FBI says the billions of dollars stolen from Binance within minutes were orchestrated by North Korean hackers, and The Guardian that the FBI blames the North Korean state-sponsored group TraderTraitor, which The Independent calls the same actors behind the $1.5bn Bybit hack last year. On Sunday 1 November City A.M. reported that Binance had allowed customers to start withdrawing funds, and users withdrew $3.6bn, The Guardian and BBC News reported, BBC News writing that the exchange froze transactions in the wake of the incident, which impacted $6.3bn worth of digital assets.
Latest: Binance users withdrew $3.6bn after the record crypto hack, BBC News reported, the exchange having frozen transactions in the wake of the incident, which impacted $6.3bn worth of digital assets.
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How it unfolded
Sunday 1 November
The FBI blamed North Korea for the Binance hack, The Independent, The Guardian and Euronews reported, The Guardian and The Independent writing that the FBI tied it to the group TraderTraitor, and Binance allowed customers to start withdrawing funds, City A.M. reported, investors taking out $3.6bn, The Guardian reported.
- 19:43BBC News Binance users withdraw $3.6bn after record crypto hack
- 13:08The Guardian Investors take out $3.6bn from Binance after record hack that stole billions
- 11:08City A.M. Binance resumes customer withdrawals after record $6.3bn hack
- 03:15Euronews FBI blames North Korea for $6.3 billion Binance crypto hack
Saturday 31 October
Crypto prices fell on Friday as Binance sought to reassure customers that their funds were safe, and the exchange said it had covered 90% of the losses from the $6.3 billion hack so far, The Independent reported.
- 23:05The Independent FBI confirms North Korea behind stolen billions from Binance in biggest crypto heist in history
- 22:41The Guardian Binance says 90% of losses from $6.3bn hack covered as FBI says North Korea behind attack
- 19:03The Independent FBI blames North Korea for stolen billions from Binance in biggest hack in history
- 15:57The Independent Binance says it covered 90% of losses from $6.3 billion hack so far