Binance opens crypto withdrawals in phases starting with bitcoin following $6.3 billion hack
Binance has reopened crypto withdrawals in phases starting with bitcoin days after the largest hack in crypto history, with the exchange covering 95% of stolen losses.
Binance resumed withdrawals for bitcoin and assets on 15 other blockchains on Sunday after a $6.3 billion hack, with the exchange replacing about 95% of the stolen assets using company funds. The phased restart began with the first withdrawal window running from 06:00 to 09:00 UTC, with additional phases contingent on security and stability checks for each blockchain.
Security Measures
The exchange said it had replaced about 95% of the affected assets, up from 90% a day earlier, using company funds including its Secure Asset Fund for Users. "All BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC balances are fully backed 100%. Users can verify our proof of reserves snapshot on the PoR website," a Binance spokesperson said.
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