Binance resumes withdrawals following $6.3 billion security breach

Binance announced on Sunday that it is resuming user withdrawals through a phased approach. The exchange had suspended all deposits and withdrawals after hackers compromised its wallets, resulting in the theft of $6.3 billion in digital assets.

The company reports that it has now secured 95% of the value of the stolen assets. Binance is currently attempting to source the remaining funds, noting that these assets have lower market liquidity, which has complicated the recovery process. The exchange has stated that it will absorb the full financial impact of the breach and will not transfer these losses to its user base.

Management described the initial freeze as a necessary precaution while security teams assessed the scope of the incident. The company continues to work toward stabilizing the platform's liquidity and restoring full operational capacity.