Binance records $3.64bn in net withdrawals over $6.3bn heist

Binance, the world’s largest cryptocurrency exchange, has recorded net withdrawals of $3.64 billion after it resumed operations on November 1. The surge in withdrawals occurred following a temporary suspension of services caused by a record-breaking $6.3 billion cyberattack. Despite the significant outflow, which represents approximately 2.1% of its total assets, the exchange reported that withdrawal activities are beginning to stabilize and operations are returning to normal.

The cyberattack has been linked by the FBI to North Korea’s "TraderTraitor" unit, a sophisticated cybercrime group. To protect its 335 million registered users, Binance confirmed it has already used its own corporate funds to cover 95% of the stolen assets. The exchange has committed to absorbing the full financial impact of the theft, ensuring that customer tokens are replaced. Officials also clarified that while the global platform was targeted, its U.S.-based operations remained unaffected throughout the incident.

This breach is considered by analysts to be potentially the largest financial robbery in history, surpassing the $2.9 billion in total cryptocurrency losses reported across the industry last year. Binance currently manages approximately $171 billion in assets, providing a substantial capital buffer to manage the current liquidity pressure. The company is continuing to restore its services gradually while implementing enhanced security measures to prevent future incursions.