Suryaa Business Desk: Binance, the world's largest cryptocurrency exchange, has announced it is resuming withdrawal services in phases following a major digital theft. Cybercriminals previously breached the platform, stealing tokens valued at over six billion dollars.
The exchange has recovered approximately 95 percent of the lost funds, utilizing its own capital and emergency reserves to ensure customer funds were not impacted. The FBI has identified the North Korean-backed hacking group TraderTraitor as being involved in the cyber attack.
Binance initially suspended trading and withdrawal services following the breach. The exchange clarified that the first phase of restored withdrawals will include major cryptocurrencies such as Bitcoin, Ethereum, BNB, Solana, XRP, and Dogecoin. The remaining five percent of funds involve tokens with lower liquidity, which the exchange noted will take more time to recover.
To reinforce security standards, Binance stated it will soon release a full Proof of Reserves to demonstrate that user funds remain secure on the platform.