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After largest cryptocurrency theft in global history, Binance aims to fully restore withdrawal services next week

Source: IT之家 Published: Business & Funding 中文
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Binance, the world's largest cryptocurrency exchange, is gradually resuming operations after hackers stole assets worth $6.3 billion last month. Binance said today that it plans to fully restore the withdrawal services that remain unavailable by the end of next week. "This week, we restored withdrawal services for 87 networks. Our goal is to restore withdrawal services for all remaining networks and assets by the end of next week."

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Article title: After the world's largest cryptocurrency theft, Binance aims to fully restore withdrawal services next week

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After the world's largest cryptocurrency theft, Binance aims to fully restore withdrawal services next week

IT之家 November 14 news: The world's largest cryptocurrency exchange, Binance, was hacked last month, and after assets worth 6.3 billion USD (IT之家 note: currently about 42.115 billion RMB) were stolen, its business operations are gradually recovering.

Binance announced today that it plans to fully restore withdrawal services that have not yet been reopened by the end of next week. "This week, we restored withdrawal services on 87 networks. Our goal is to restore withdrawal services for all remaining networks and assets by the end of next week."

Earlier this month, after covering 95% of the stolen asset losses, Binance began restoring withdrawals in phases. The stolen assets had a total value of 6.3 billion USD (currently about 42.115 billion RMB), which experts regard as the largest cryptocurrency theft in history.

In its preliminary investigation report, Binance disclosed that the hackers began carrying out the attack in stages in June, breaking through security defenses one after another, and ultimately stole the assets on October 29.

The incident exposed the cybersecurity risks facing digital assets and also raised concerns about how Binance will be affected. Binance promised to fully compensate customers for their losses.

Binance CFO Kaiser Ng left more than a week after the incident, ending more than five years of service and preparing to pursue a new career. He was succeeded by senior finance executive Justin Yek, who previously served as vice president of finance at Airwallex.

  • "Binance announces that all 6.34 billion USD in stolen assets have been fully covered, and losses will not be passed on to users"

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