Binance resumes fund withdrawals after historic theft as customers withdraw $4.7 billion

Binance has resumed withdrawals after a historic hack that resulted in a $6.3 billion theft. The platform claims to have covered 95% of the losses and reported $4.7 billion in withdrawals shortly after reactivation. Despite the incident, Binance asserts that customer reactions have been contained, with withdrawals representing less than 4% of its total assets. The hack, attributed to North Korean hackers, exploited vulnerabilities in an employee's computer, allowing unauthorized transactions. Investigations are ongoing, with collaboration from blockchain analysis firms and U.S. authorities to recover stolen funds.