Binance Resumes Crypto Withdrawals in Phases After $6.3 Billion Hack, Starting With Bitcoin

Binance, the world's largest cryptocurrency exchange by trading volume, has begun reopening customer withdrawals in a phased approach following a record-breaking $6.3 billion exploit. The first phase allows users to withdraw Bitcoin, with additional cryptocurrencies expected to follow as the exchange restores full functionality. The hack, which targeted Binance's cross-chain bridge, is one of the largest in crypto history and has raised fresh concerns about security across decentralized finance platforms. Binance has stated that customer funds are safe and that the phased withdrawal rollout is intended to manage network congestion and ensure stability. The incident underscores the ongoing risks in the crypto ecosystem and highlights the importance of robust security measures for exchanges and bridge protocols. As Binance works to fully restore services, investors and regulators will be watching closely to see how the exchange addresses vulnerabilities and rebuilds trust.