Binance sees spike in customers pulling funds out after covering bulk of stolen $6.3 billion
Binance said it has covered 95% of the stolen assets and will prioritize withdrawals by token demand as it works to restore services.
- On Sunday, Binance resumed withdrawals for various assets, triggering an initial spike in customer outflows as the exchange recovers from a $6.3 billion platform hack.
- The theft unfolded in around 20 minutes late Thursday, with the FBI attributing the attack to the North Korean state-sponsored unit TraderTraitor.
- Binance covered 95% of stolen assets by utilizing its $1 billion Secure Asset Fund and Futures Insurance Fund, setting aside around $6.34 billion total to cover losses.
- DefiLlama reported more than $3.5 billion in net outflows on Sunday, though a spokesperson noted withdrawal volumes are stabilizing and represent a small percentage of assets.
- The FBI expects "further laundering" of stolen tokens, while President Donald Trump stated on Saturday it remains unclear whether North Korea is responsible for the breach.
14 Articles
14 Articles
Binance sees spike in customers pulling funds out after covering bulk of stolen $6.3 billion
Binance saw an initial spike in customers pulling money out after the exchange resumed withdrawals for a number of assets on Sunday, as it tries to recover from the theft of $6.3 billion in tokens from its platform in a hack the FBI and analysts have tied to North Korea.
Binance resumes customer withdrawals after record $6.3bn hack
Binance has allowed its customer to start withdrawing funds from the platform, as it begins to resume servies after a record $6.3bn hack.The cryptocurrency exchange was hit by the theft on Thursday, forcing it to suspend withdrawals as it raced to fix the platform and investigate how hackers breached the system.Binance began a phased reopening [...]
Binance announced today the reactivation of cryptocurrency sacks in three more networks after the hack attack that reached more than US$6 billion in assets. Release includes ZEC, USDT and GRAM assets in the TON and SUI network. According to a statement released by the platform, the sacks had already been resettled in 12 other networks with different assets available in each one, including Bitcoin and Ethereum. The broker reported that it will co…
The main cryptocurrency exchange company reported that the first stage of withdrawals began this Sunday.The theft was for a figure close to $6.3 billion and the FBI accused hackers from North Korea.
The world's largest cryptic Binance exchange has partially restored the possibility of withdrawal for users after a major hack. The area has resumed asset withdrawal operations after a recent hacking attack, is being handed over to Vesti. The company's report indicates that withdrawals are open to seven networks, including Bitcoin, etherium, USDT and a number of others are cryptating. As the security checks are completed, the stock exchange will…
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