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Economy

Binance resumes withdrawals after $6.3bn hack blamed on North Korea

Binance said it has covered about 95% of the $6.3bn in stolen assets and reopened withdrawals in phases after suspending them.

Who covered it

3 articles from rated outlets · 2 wire/unrated
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  • Left 1
  • Right 2
  • Far right 0
  • Conspiracy right 0
  • Wire / unrated 2

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What we know

  • Binance suspended withdrawals after a hack that affected about $6.3bn in funds.
  • The FBI tied the attack to North Korea, according to reports.
  • Binance said it has covered around 95% of the stolen assets using company funds.
  • Binance said withdrawals resumed in phases, starting with 15 networks and assets including bitcoin and ethereum.
  • Binance said there was an initial spike in withdrawals that later declined and was stabilizing.
Summarised from 5 reports across 2 perspectives.

How it's being told

2 of 6 perspectives found in coverage

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Each side in depth

Left

Notes investors pulled $3.6bn from Binance

The Guardian US (Politics): Investors take out $3.6bn from Binance after record hack that stole billions

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The Guardian US reports that investors withdrew $3.6bn from Binance as it reopened after a record hack, with experts identifying North Korea as the likely culprit.

How they tell it · 1 article
Who's in this lane

Mainstream liberal outlets such as CNN, MSNBC, NPR and The Washington Post. Usually focuses on who is affected, climate, public institutions and criticism of the Trump administration.

The opposite side says

Right: Says withdrawals test trust after North Korea hack

Right

Says withdrawals test trust after North Korea hack

New York Post (Politics): Binance sees spike in withdrawals as exchange returns online after $6.3B heist

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The New York Post frames the withdrawals as an early test of whether customers still trust Binance after a North Korea-linked heist, noting the exchange has covered 95% of stolen assets.

How they tell it · 2 articles
Who's in this lane

Mainstream conservative outlets such as Fox News, the Washington Examiner and the New York Post. Usually focuses on costs, security, government overreach and Democratic policy.

The opposite side says

Left: Notes investors pulled $3.6bn from Binance

Where readers stand

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Full coverage

5 articles from 4 outlets

Grouped left to right; wires and unrated outlets sit in the middle.

The debate

Should Binance have resumed withdrawals before covering all stolen assets?

Debate

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