Binance Reopens Bitcoin Withdrawals Three Days After Record Hack, With FBI Blaming North Korea

What happened

Binance began reopening Bitcoin withdrawals Sunday, three days after a record $6.3 billion hack, with other assets and networks returning in stages after security checks. The exchange said company funds had replaced about 95% of stolen crypto, while the FBI blamed North Korea for the theft.

Confirmed

Global impact / market context

Restored withdrawals let customers access their holdings, but the staged process means security checks still determine when more networks reopen. Replacing stolen crypto with company funds may reduce immediate customer losses, while spending protection funds and treasury resources could leave Binance with less cash available for other needs.

Analyst inference

The article says the hack sent prices of most major cryptocurrencies sharply lower Friday, linking the theft to broad selling. Binance’s reopening is therefore a test of customer confidence, while continued withdrawals or delayed network access could shape whether users keep assets on the exchange or move them elsewhere.

Analyst inference

What to watch

1. Watch Binance’s announced security checks and staged restoration, because further network reopenings would show whether customers can regain access across more assets. Confirmed
2. Track whether Binance reports replacing the remaining stolen crypto and refilling its user-protection fund, since those commitments would clarify the cost borne by the company. Confirmed
3. Customer withdrawals and returns could indicate whether the reopening rebuilds confidence; sustained departures could pressure Binance’s available cash and future ability to fund protection. Analyst inference

Affected assets

• BNB — BNB
• BTC — Bitcoin
• XRP — XRP
• OP — Optimism

Evidence

• cryptoprowl.com