Binance says withdrawals should restart within 48 hours as it rebuilds withdrawal controls after the $6.3 billion theft, with about $3 billion frozen

Binance has put a clock on the freeze. Yi He, a Binance executive, posted a "Service Update" on X at about 04:17 UTC on Friday saying the team expects to "begin resume withdrawal services in the next 48 hours" while it works on withdrawal services and address controls, according to FinanceFeeds. She said deposits "remain unaffected," although earlier Binance notices had said deposits were suspended, a gap FinanceFeeds notes the exchange has not explained.

The exchange puts the theft at about $6.3 billion. The Cryptonomist reports about $3 billion is frozen, including nearly $1.57 billion at Tether and more than $800 million at Circle, and that Binance has committed to cover all losses. Euronews reports Binance's first investigation pointed to a compromised DevOps engineer's laptop, that it later found other breaches in what it called a complex attack, and that it sees no evidence of a wallet private key leak. TRM Labs attributes the attack to North Korea's TraderTraitor group with "high confidence"; Binance has not confirmed that.

Binance says it will publish a technical post-mortem and an updated Proof of Reserves. Frozen funds are not recovered funds, and customers are still waiting to withdraw.