Binance Restores Withdrawals; Crypto Sector Digests $7.6 Billion Attack

The saga has come as a blow to an industry that in some respects was seen as a mainstream financial services business, attracting interest from quarters such as wealth management.

On Sunday, Binance, the world’s largest digital assets platform, said it was resuming the first phase of withdrawals. The exchange battled to restore operations following revelations of a major hacking attack late last week. Some $6.3 billion of funds were affected by the heist, the largest ever, and a blow to the global crypto sector.

The organisation said it has already covered about 90 per cent of the affected amount, up from approximately 80 per cent in an earlier update.

The digital-asset platform reopened bitcoin withdrawals after 14:00 Singapore time, more than two days after halting them following the breach.

As of the time of writing, North Korea is being blamed for the breach.

“Binance is preparing to resume phase one of withdrawals on 2026-11-01 between 06:00 and 09:00 (UTC),” the exchange said on X, the platform it uses for announcements. “Since the incident, our teams have taken precautionary measures to safeguard the platform, conducted security assessments, and worked to verify the readiness of affected services. We aim to restore withdrawals progressively as we complete security and readiness checks. Deposit services remain open and are not affected by the incident.”