Binance recovers 95% of $6.3 billion crypto heist

Binance has announced plans to gradually resume cryptocurrency withdrawals after recovering 95% of the $6.3 billion in digital assets stolen in what has been described as the world’s largest cryptocurrency heist.

The world’s largest cryptocurrency exchange said the first phase of withdrawals would begin between 0600 and 0900 GMT on Sunday. The initial phase will cover major digital currencies, including Bitcoin, Ethereum, BNB, Solana, XRP and Dogecoin, along with several other tokens.

In a statement shared on X late Saturday, Binance said the remaining 5% of the stolen assets comprised less liquid cryptocurrencies. It added that securing these assets in the required quantities could take additional time.

The development came after the US Federal Bureau of Investigation (FBI) attributed the cyberattack to TraderTraitor, a North Korean state-sponsored hacking group.

In a statement issued on Saturday, the FBI said members of the group had been observed converting the stolen cryptocurrencies into Ethereum.

The agency also warned that further attempts to launder the stolen funds were expected through related technologies.

North Korea has repeatedly rejected allegations that state-linked cyber units are involved in espionage, financial theft and revenue-generating operations. However, its mission in Geneva and embassy in China did not respond to requests for comment.

The FBI and US Secret Service are also working with Binance following the massive security breach, according to earlier reports.

The recovery of most of the stolen assets marks a significant development in the investigation, although efforts to trace and secure the remaining funds are continuing.