Top story: Binance Withdrawals Reopen in Phases After $6.3B Hack. At publication, Bitcoin was at $78,122 (+0.3% in 24h), Ether at $2,283.62 (+0.7% in 24h) and the total crypto market cap at $2.61 trillion (-3.4% in 24h).
Binance Replenishes $6.3B in Stolen Assets as FBI Links Hack to North Korea
Binance is buying back stolen altcoins in matching quantities and has begun reopening withdrawals in phases after a $6.3 billion breach. The FBI has attributed the attack to North Korean actors, and the exchange says about 95% of the affected amount has been replenished.
Binance says it has replaced roughly 90% to 95% of the assets affected by its recent security incident, with a phased withdrawal restart scheduled to begin November 1. Sources differ on the replenishment figure, and withdrawal availability will vary by asset and network.
Blockchain trackers have followed wallets linked to the October 29 Binance hot wallet breach as they move roughly half of the traced 970,000 SOL, worth about $46 million, to new addresses. Lookonchain reports the attacker is swapping SOL for Bitcoin through Relay Protocol, while the FBI has attributed the theft to North Korea-linked TraderTraitor.
Binance resumed USDC, USDT and ETH withdrawals on Ethereum, and USDC, USDT and BNB withdrawals on BNB Smart Chain, as part of a phased recovery from the October 29 hot wallet breach. The exchange says it has replaced about 95% of the affected assets and set aside more than $6.34 billion in corporate funds to cover user losses.
Standard Chartered's Geoff Kendrick said Bitcoin's bottom is "almost in" after the asset fell 14% in seven days to about $62,500-$63,700, its lowest since February. Strategy's first net sale of Bitcoin in years, record-scale ETF outflows and a tight liquidation picture underpin his view that the bear market may be nearing its final stage.
Written by CoinArticle's AI Newsroom from cited sources. Not financial advice.
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