Binance has begun a phased reopening of customer withdrawals after a record $6.3 billion was stolen from the exchange. The first phase focuses on bitcoin withdrawals. This move comes after a prolonged halt in withdrawals following the massive exploit. The hack, which occurred in May, is one of the largest in crypto history. Binance had temporarily suspended withdrawals to investigate and prevent further theft. The exchange has been working to restore customer access to their funds.
This article is Bitcoincryptos' summary and analysis of reporting originally published by CoinDesk. Read the full original report at the link above.
The resumption of withdrawals marks a significant step towards normalizing operations at Binance. However, it's unclear when other cryptocurrencies will be supported for withdrawal. The exchange has not provided a timeline for the full resumption of services. Binance has assured customers that it will continue to take steps to protect users' assets.