Binance restores withdrawals after FBI attributes attack to North Korea

Binance restored cryptocurrency withdrawals in stages on Sunday after suspending them following a security incident on Thursday. The FBI attributed the attack to hackers linked to North Korea, while President Donald Trump said it was not yet known whether North Korea was responsible.

Service resumes in phases

By 12:36 GMT on Sunday, Binance said it had restored withdrawals across the first 15 networks and assets in its reopening plan. Testing continued for the remaining services. The company said withdrawal volumes were within its forecasts and deposits had been rising steadily after operations resumed.

Co-chief executive Yi He said some reported outflows were transfers between Binance’s own wallets rather than customer withdrawals. Analyst Tim Sun said the movements had not caused widespread panic or a concentrated mass withdrawal.

Recovery and attribution

Binance said it worked with industry partners, including stablecoin issuers, to freeze almost half of the stolen assets. It also said about 95% had been recovered by Sunday and pledged to cover losses through its protection fund and company resources. The final damage has not been publicly determined.

The FBI linked the attack to TraderTraitor, a group it says is connected to North Korea. Pyongyang has repeatedly rejected allegations of involvement in cyberattacks. Trump said on Saturday that information was still being gathered and responsibility had not been established.

Bitcoin, ether and Binance’s BNB token fell after the attack became known, with reported declines of nearly 5%, 6% and 10% respectively.

Source: 20minutos, elDiario.es, ABC and La Vanguardia.