Binance gradually reopens withdrawals after $6.3 billion theft

Binance is gradually reopening cryptocurrency withdrawals after suspending deposits and withdrawals for more than two days following the theft of about $6.3 billion from wallets it uses to process customer transactions. Binance said the pause was meant to stop further unauthorized transfers while it secured its systems and arranged replacement assets, and that it would bear the loss rather than pass it to customers. The exchange is restoring withdrawal services in phases rather than all at once. The restart will put the focus on whether Binance can process customer withdrawals reliably after a breach that has tested confidence in one of crypto’s biggest custodians.