Binance to Restore Withdrawals in 48 Hours After Record $6.3 B Hack Following a record‑breaking hack, Binance has confirmed it will resume withdrawal services within 48 hours after implementing security checks. The theft, labeled the largest in crypto history, affected multiple blockchains and resulted in the freezing of about half of the stolen assets. Binance is preparing to restore withdrawal capabilities within the next 48 hours following a pause it imposed to carry out comprehensive security checks after a major hack. Deposits remain unchanged and continue to be processed normally. The exchange's technical team is actively working on improving its withdrawal service and adding further controls for transaction addresses, as part of a broader effort to prevent a recurrence of the incident. The breach that triggered the pause began at around 20:20 UTC on Thursday, 29 October, with an attack on Binance's primary Ethereum hot wallet.Binance Hack Estimates Billions in Stolen AssetsRoughly two hours later, at 22:30 UTC, Binance confirmed the exploitation had taken place and released the first statement regarding the hack. By 02:25 UTC on Friday, 30 October, the exchange had estimated that roughly US$6.3 billion of assets had been siphoned, making this the largest theft in cryptocurrency history. The attackers drained hot wallets across ten different blockchains. On the Ethereum network alone, the attacker moved approximately $3.74 billion worth of tokens.The Bitcoin network lost about 18,270.2 BTC, valued at $1.47 billion. On the Tron platform the theft totaled $612.7 million in USDT and 46.4 million TRX (about $627 million), while Solana, Arbitrum and Avalanche saw losses of $96 million, $32 million and $24 million respectively. Binance and its industry partners - namely Tether, Circle, Ripple, Paxos, Arbitrum, World Liberty Financials and others - have already frozen roughly $2.8 billion of the stolen assets.This accounts for almost half of the total theft, largely thanks to the freeze features available in stablecoins. However, the attacker can still move BTC and ETH holdings, totaling about $3.27 billion, according to on‑chain analysis and security researcher Dickson Wu. The breach has been attributed to North Korea's "TraderTraitor" group, which exploited the victim's inability to segregate Binance's stolen funds from the addresses linked to Bitget's $388 million exploit.Binance Identifies DevOps Laptop as Breach Entry PointBinance traced the vulnerability to a compromised DevOps engineer's laptop, which the attackers used to gain access to the exchange's internal infrastructure and sign off on transfers. It was noted that no private keys from the hot wallets were leaked and Binance has assured its users that it will cover all losses. Market reaction to the hack was swift and severe.The event pushed traders into a state of fear previously seen only in August, and caused Bitcoin to fall 7 percent to around $76.5 k before any tentative rebound could begin. Analysts noted that the destruction of Bitcoin supply will take years to be fully realized on the market, drawing parallels with the Coldcard and Bitfinex hacks of the past.Stolen Bitcoin Supply Frozen Affects Market DynamicsIn this context, the stolen Bitcoin is viewed not as a mere financial loss but as a hidden, locked supply that could influence market dynamics over a long horizon. Binance estimates the total value of the assets stolen to reach $6.3 billion, with roughly half of these funds now frozen. The incident has cast a lingering shadow over the crypto industry.While Binance assures its users that it will do everything possible to compensate for the losses and restore normal service as soon as possible, the broader community remains on high alert as they continue to monitor how the frozen assets and the potential movement of the remaining ones may affect blockchain ecosystems and investor confidence in the coming months.