BINANCE HACK TO WITHDRAWALS RESUMING: WHAT HAPPENED IN THE LAST 3 DAYS?
Here's a quick timeline of Binance's recovery journey:
October 29 – The Hack
→ Massive security incident.
→ Approximately $6.3 BILLION worth of assets were impacted.
→ Withdrawals suspended across networks.
October 30 – Damage Control
→ Binance promised to cover all user losses.
→ Recovery and asset-freezing efforts began.
→ Around $3B in stolen assets had reportedly been frozen.
→ Around 80% of impacted funds covered.
October 31 – Recovery Progress
→ Asset coverage increased from 80% to 90%.
→ Binance published an updated Proof of Reserves snapshot.
→ FBI attributed the attack to North Korean hacking group TraderTraitor.
→ Withdrawal resumption remained on schedule.
November 1 – Withdrawals Resume (TODAY)
→ Binance reports 95% of impacted funds covered.
→ Phase 1 withdrawals scheduled for 06:00–09:00 UTC.
→ Remaining networks will reopen progressively.
→ Binance says users will not bear the financial losses.
A $6.3B security incident, frozen assets, suspended withdrawals and now a phased recovery within just 3 days.
The investigation is still ongoing, and Binance's final post-incident report is awaited.
A really heartfelt thank you to Binance for putting users first, prioritizing their funds and taking responsibility during such a difficult situation.
This is what putting users first should look like. ❤️
Here's a quick timeline of Binance's recovery journey:
October 29 – The Hack
→ Massive security incident.
→ Approximately $6.3 BILLION worth of assets were impacted.
→ Withdrawals suspended across networks.
October 30 – Damage Control
→ Binance promised to cover all user losses.
→ Recovery and asset-freezing efforts began.
→ Around $3B in stolen assets had reportedly been frozen.
→ Around 80% of impacted funds covered.
October 31 – Recovery Progress
→ Asset coverage increased from 80% to 90%.
→ Binance published an updated Proof of Reserves snapshot.
→ FBI attributed the attack to North Korean hacking group TraderTraitor.
→ Withdrawal resumption remained on schedule.
November 1 – Withdrawals Resume (TODAY)
→ Binance reports 95% of impacted funds covered.
→ Phase 1 withdrawals scheduled for 06:00–09:00 UTC.
→ Remaining networks will reopen progressively.
→ Binance says users will not bear the financial losses.
A $6.3B security incident, frozen assets, suspended withdrawals and now a phased recovery within just 3 days.
The investigation is still ongoing, and Binance's final post-incident report is awaited.
A really heartfelt thank you to Binance for putting users first, prioritizing their funds and taking responsibility during such a difficult situation.
This is what putting users first should look like. ❤️