Binance Resumes Crypto Withdrawals After Record Hack, 95% of Losses Covered

Binance began restoring crypto withdrawals on November 1, three days after about $6.3 billion was taken from its hot wallets across multiple blockchains. Bitcoin was the first network reopened in a phased rollout, with MATIC/Polygon and AVAXC assets added later on November 1; Binance said more networks would follow after checks and warned of possible delays from high volume. The exchange said deposits remained available and that its reserves had covered roughly 95% of the stolen funds, with the remaining gap in less liquid tokens still being purchased. The FBI attributed the October 29 breach to North Korea’s TraderTraitor group, and partners froze an estimated $2.7 billion to $3 billion.