Binance withdrawals are back online after covering most of the $6.3B stolen in the largest crypto hack ever.
What happened:
- Oct 29: Attackers drained hot wallets across multiple chains
- FBI confirmed it was North Korea's TraderTraitor unit
- Binance immediately halted withdrawals
The response:
- Binance pulled ~$6.34B from SAFU fund, futures insurance, and treasury
- Bought back 90-95% of stolen assets
- ~$3B frozen on-chain
- Phased withdrawals for $BTC, $ETH, major stablecoins started Nov 1
This is how you handle a crisis in crypto. Most exchanges would've collapsed. Binance absorbed a $6B+ hit and kept moving.
SAFU isn't just a meme anymore.
What happened:
- Oct 29: Attackers drained hot wallets across multiple chains
- FBI confirmed it was North Korea's TraderTraitor unit
- Binance immediately halted withdrawals
The response:
- Binance pulled ~$6.34B from SAFU fund, futures insurance, and treasury
- Bought back 90-95% of stolen assets
- ~$3B frozen on-chain
- Phased withdrawals for $BTC, $ETH, major stablecoins started Nov 1
This is how you handle a crisis in crypto. Most exchanges would've collapsed. Binance absorbed a $6B+ hit and kept moving.
SAFU isn't just a meme anymore.