Binance withdrawals resume following $6 billion hack

Binance, the world’s largest cryptocurrency exchange, said it has resumed withdrawals after a record $6.3 billion was stolen from its digital wallets last week.

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

The company has resumed withdrawals for 15 digital currencies — including Bitcoin, Solana and Ethereum — as of 7:36 a.m. ET. Binance will “continue to restore additional assets and networks in phases as security checks are completed.” The phases are being prioritized based on user demand over the past week, the company noted.

Binance said it had processed around $4.6 billion in withdrawals and $1 billion in deposits by 10:30 a.m. ET. The company said it is testing its remaining systems and assets.

“We know how important safe and reliable access to your funds is and will share details of the next phase as soon as we can,” Binance wrote. “Rest assured that market conditions are stable.”

Some users may face delays or longer processing times, the company warned. Binance had suspended withdrawals on Friday after its system was hacked.