FBI Blames North Korea for $6B Binance Hack as Exchange Reopens Withdrawals

What happened: The FBI attributed the theft of more than $6 billion from Binance to North Korean hackers it calls TraderTraitor. Binance began restoring withdrawals in phases on Sunday and later reopened fiat withdrawals. Key numbers: FBI cited over $6 billion stolen; Binance processed $4.649 billion in withdrawals Why it matters: Binance said it will absorb the financial impact rather than users, and withdrawal volumes declined and stabilized after an initial spike. The hack rattled institutional investors, with spot Bitcoin ETFs posting roughly $516 million in net outflows for October. Coverage: 10 outlets in 24h

The FBI attributed the theft of more than $6 billion from Binance to North Korean hackers it calls TraderTraitor. Binance began restoring withdrawals in phases on Sunday and later reopened fiat withdrawals.

Binance said it will absorb the financial impact rather than users, and withdrawal volumes declined and stabilized after an initial spike. The hack rattled institutional investors, with spot Bitcoin ETFs posting roughly $516 million in net outflows for October.