Binance resumes withdrawals after covering most of breach losses
The cryptocurrency exchange said it has covered 95 per cent of assets lost in a $6.3 billion security incident.
At a glance
- Binance has restarted withdrawal services
- The exchange covered 95% of $6.3 billion in stolen assets
- The breach had previously disrupted user withdrawals
Binance has resumed withdrawal services following a major security breach that resulted in the loss of $6.3 billion in assets. The exchange said it has now covered 95 per cent of the stolen funds.
The resumption of withdrawals marks a step towards normalcy for the platform after the incident disrupted user access to their holdings.
Why it matters
The incident highlights security risks in cryptocurrency exchanges and the steps platforms take to restore user confidence after major breaches.
Original reporting
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