The Morning Risk Report: Binance Resumes Withdrawals After Suffering Biggest-Ever Crypto Hack

A facts-only brief, written by a local AI model from this article in The Wall Street Journal, November 2, 2026. It may contain mistakes, and it is not the article: the full story is at wsj.com.

Binance reopened withdrawals on Sunday after replacing roughly 95% of the assets lost in a $6.3 billion heist, noting that the remaining 5% are less liquid and take longer to source. The exchange reported a net outflow of $3.64 billion within 9.5 hours of resuming operations, resulting from $4.65 billion in withdrawals and $1.1 billion in deposits. Binance stated it will cover the financial impact of the stolen funds using reserved company money, ensuring users are not liable for the losses. The company plans to release a post-incident report once its security investigation concludes.

Background

• The Federal Bureau of Investigation and independent security experts linked the breach to North Korea’s TraderTraitor group, which accessed funds by compromising a Binance engineer’s laptop.
• The exchange had previously suspended withdrawals to conduct security checks and fronted the stolen amount with its own capital, intending to recoup the costs from $3 billion in frozen funds.
• Binance stated it will continue restoring additional assets and networks in phases as security checks are completed.

Read the full article at wsj.com

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