Binance Resumes Phased Bitcoin and Crypto Withdrawals After Record $6,360,000,000 Hack

Binance is reopening crypto withdrawals in careful phases after the biggest theft in the industry's history. The exchange paused withdrawals as a precaution during the October 29th incident, when an attacker drained approximately $6.36 billion across ten blockchains in roughly 20 minutes. Binance says it has now covered about 95% of the impacted amount using its own resources with all major assets including Bitcoin, Ethereum and major stablecoins fully backed at 100%. The company says user funds remain safe, and it will absorb the entire financial impact rather than passing losses to customers. Deposits have remained open throughout.

Source: The Daily Hodl