Binance targets full reopening of withdrawals by next week

FILE PHOTO: Binance logo is seen in this illustration taken March 31, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

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Nov 14 : Binance said on Saturday that it aims to reopen withdrawals for all remaining networks and assets by the end of next week, as operations normalise for the world's biggest cryptocurrency exchange after a security breach linked to North Korea saw $6.3 billion stolen from the platform last month.

"This week, we reopened withdrawals for 87 networks. We will aim to reopen withdrawals for all remaining networks and assets by the end of next week," the company said in an X post.

Binance resumed withdrawals in phases earlier this month, after covering 95 per cent of the $6.3 billion in tokens stolen from its platform in what experts describe as the largest cryptocurrency theft ever.

The FBI and Binance have said North Korea was responsible for the Binance hack, but Pyongyang has denied that. Blockchain investigation firms have attributed it to a North Korean group known as "TraderTraitor".

In its initial report on how hackers pulled off the heist, Binance detailed a multi-stage hacking endeavour that began in June and set off a series of security breaches culminating in the theft on October 29.

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