Cryptocurrency exchange Binance has initiated a phased resumption of withdrawals following a $6.3 billion digital asset theft from its wallets.
The platform stated it has covered 95% of the compromised assets and will absorb the financial impact without passing losses to users.
The FBI attributed the attack to North Korean threat group TraderTraitor, which is actively laundering the funds through Ethereum.
According to the announcement, Binance has recovered 95% of the stolen funds and is working to find the remaining funds, which are less easy to liquidate. The company made it clear that it will shoulder the financial loss and that the losses will not be passed on to users.
How are withdrawals returned?
The temporary freeze was deemed a necessary precautionary measure, allowing the company's teams to contain the problem, assess the impact, restore services, and complete security checks.
Withdrawals are being restored in phases, depending on the network and currency type. Some situations are normal, while others remain partially or fully suspended. The company advised users to expect temporary delays due to the high traffic expected during the resumption.
Who is behind the attack?
The FBI said Saturday that a North Korean group called TraderTraitor was responsible for the attack. Authorities say the group is converting the stolen digital currencies, primarily into Ethereum, and is expected to make efforts to conceal their origin.
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Binance plans to publish a more detailed report on the incident once the investigation is complete.
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