Binance Customers Withdraw More than $4.6 Billion After Crypto Heist
The exchange said it will cover customer losses with insurance funds and treasury reserves after restoring most stolen assets.
- On Sunday, Binance reopened transactions after a 48-hour freeze following a hack that saw $6.3 billion stolen from the platform. Customers have since withdrawn nearly $5 billion from the world's largest cryptocurrency exchange.
- The FBI attributed the Thursday breach to North Korea-linked hackers known as "TraderTraitor," who previously targeted Bybit in a $1.5 billion attack and employed "highly complex" laundering methods.
- After resuming operations, Binance recorded net outflows of $3.64 billion, representing roughly 2.1% of its $171 billion in total assets. "After an initial spike, withdrawal volumes have declined and are stabilising," the company said.
- To mitigate losses, Binance collaborated with stablecoin issuers to freeze roughly $3 billion in stolen funds and is covering remaining losses via its Secure Asset Fund for Users. The exchange restored roughly 95% of the impacted amount by Sunday.
- Tim Sun, a senior researcher at HashKey Group, said the hack "has not yet triggered widespread panic," though the incident underscores the vulnerability of digital assets to state-sponsored cyberattacks. North Korea-linked hackers have stolen $7.4 billion in 2026.
11 Articles
11 Articles
Binance clients pull $4.7 billion after hack as crypto world studies fallout
SINGAPORE/PARIS — Binance's customers have withdrawn a net $4.72 billion from the world's biggest cryptocurrency exchange since it reopened, after hackers stole around $6.3 billion of crypto from the platform in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 financial heist in history. The exchange froze withdrawals for about 48 hours after the hack, which which the FBI said was carried out by North Korea, then started allowing customers to withdraw again on Sunday …
Binance sees $4.7B in customer withdrawals after stunning North Korea hack
Binance has recorded more than $4.7 billion in outflows since it resumed customer withdrawals on Sunday, following a stunning North Korean hack that experts called the largest bank heist in history.
Binance customers have withdrawn about $4.7 billion (€4.214 million) from the platform after it suffered last week a cyberattack by hackers that forced the company to temporarily freeze user funds.The largest cryptocurrency exchange platform was victimized on the ... Continue reading "Binance customers withdraw more than $4.2 billion after a cyberattack on the platform"
$4.7 billion was withdrawn from Binance after the largest cyberattack, after the $6.4 billion hack, the net outflow from Binance reached $4.7 billion. The exchange has resumed withdrawals and is compensating for losses.
Coverage Details
Bias Distribution
- 34% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
