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Binance Resumes Withdrawals After $6.3 Billion Hack, Processing About $4.6 Billion in Payouts

Binance reopened withdrawals in phases on Sunday after a $6.3 billion theft last week, processing about $4.6 billion in payouts by midmorning while saying about 95% of the stolen amount is covered.

By admin Nov. 1, 2026 · 9:43 PM ET 2 min read

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Binance resumed withdrawals on Sunday after a record $6.3 billion was stolen from its digital wallets last week, reopening payouts in phases for 15 digital currencies including Bitcoin, Solana and Ethereum.

Co-chief executive Richard Teng wrote on X early Sunday: “Today, we’re beginning the phased resumption of withdrawals, taking a careful approach to ensure services return safely and securely.” He added: “Our commitment remains clear: Binance will absorb the financial impact of the stolen funds, not our users.”

By 10:30 a.m. ET, the company said it had processed about $4.6 billion in withdrawals and about $1 billion in deposits. Withdrawals for the first group opened at 7:36 a.m. ET, and the company said more assets and networks will return in phases as security checks are completed, with the order set by user demand over the past week. Some users may face delays or longer processing times, Binance warned.

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How the losses are covered

About 95% of the stolen amount is covered, Binance said. The company said it used its Secure Assets Fund for Users, a reserve fund of roughly $1 billion in Bitcoin, plus its corporate treasury and its Futures insurance fund. The remaining 5% are tokens that are less liquid in the market and take longer to source at the needed scale, while the top 10 coins are fully backed, the company said.

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Binance had suspended withdrawals on Friday after the breach. It said it has run security reviews, worked with law enforcement and partners to recover funds, and watched for risks since the breach. Industry partners froze about $3 billion of the stolen assets, Binance said.

FBI points to North Korea

The FBI said on Saturday that TraderTraitor, cyber actors sponsored by North Korea since at least 2020, were responsible for the theft, and that the actors are converting the currencies mainly into Ethereum. Binance thanked the FBI on X for its support during the incident.

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Binance said it will share details of the next phase as soon as it can, and that market conditions are stable.

Reporting based on coverage by CNN.

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