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Binance says exit rush slowing down as users weigh security risk
Binance said it has covered most losses and frozen about $3 billion in stolen assets as withdrawals resumed in stages.
- North Korean state-supported cyber group TraderTraitors stole an estimated $6.3bn in crypto assets from Binance in a highly-complex operation taking around 20 minutes to complete late last week.
- Binance froze about $3bn in assets last Friday, while coin issuers including Tether and Circle also froze billions to prevent further losses after the security breach.
- During nine hours yesterday, the exchange processed $4.6bn in withdrawals and more than $1bn in deposits, representing a net outflow of $3.6bn, or 2.1pc of its $171bn in assets under management.
- While Binance stated set-aside funds have covered 90pc of lost assets, Alexander Shirtcliff of Edwin Coe claims user terms contain liability limits and lack Secure Asset Fund commitments.
- With this latest loot, the North Korean group now wields nearly $8bn in stolen crypto assets, following a connected $1.5bn theft at ByBit early last year.
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Binance clients pull $4.7 billion after hack | Honolulu Star-Advertiser
SINGAPORE/PARIS/NEW YORK >> Binance’s customers have withdrawn a net $4.72 billion from the world’s biggest cryptocurrency exchange since it reopened, after hackers stole around $6.3 billion of crypto from the platform in what could be the largest-ever financial heist.
·Honolulu, United States
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Binance's customers have withdrawn about $4.7 billion (€4.214 million) from the platform after it suffered last week from a...
·Madrid, Spain
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Seit die angegriffene Kryptobörse Binance Auszahlungen wieder zulässt, wurden mehr als viereinhalb Milliarden Dollar abgezogen. Auch die Einzahlungen steigen
Coverage Details
Total News Sources145
Leaning Left13Leaning Right18Center21Last UpdatedBias Distribution40% Center
Bias Distribution
- 40% of the sources are Center
40% Center
L 25%
C 40%
R 35%
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