Binance Aims to Reopen All Withdrawals by Next Week After $6.3 Billion Hack

"This week, we reopened withdrawals for 87 networks. We will aim to reopen withdrawals for all remaining networks and assets by the end of next week," the company said in a post on X.

The timetable is the clearest indication yet of when customers of the world's largest cryptocurrency exchange will again be able to move all of their holdings off the platform. Binance began restoring withdrawals in phases at the start of November, after covering 95% of the tokens taken in the October 29 breach, which experts have described as the largest cryptocurrency theft on record. The company has pledged to repay customers in full.

The FBI and Binance have both said North Korea was behind the attack, which Pyongyang has denied. Blockchain investigation firms have attributed it to a North Korean group known as TraderTraitor.

In its initial account of how the theft was carried out, Binance described a multi-stage operation that began in June and set off a chain of security breaches ending in the October 29 theft. The case has added to concerns about how exposed digital asset platforms are to state-backed hackers, and about the financial hit to Binance itself.

The exchange has also changed its finance chief since the attack. Kaiser Ng left the company just over a week after the heist to pursue a new venture, having spent more than five years at Binance. He was replaced by Justin Yek, a long-time finance executive who was most recently vice-president of finance at Airwallex.

If Binance meets its target, full withdrawals will be back roughly three weeks after the theft. The company did not say in its post which networks and assets remain closed.