Binance faces $3.64 billion in withdrawals after $6.3 billion hack

timesofindia.indiatimes.com —

Customers withdrew $3.64 billion from Binance after hackers stole approximately $6.3 billion in cryptocurrency from the exchange last week, triggering an initial rush as users moved to protect their assets. Binance said outflows were stabilizing as it resumed withdrawal services, with the withdrawals accounting for about 2.1 percent of its total assets. The company replaced roughly 95 percent of stolen assets using its own funds, spending about $6 billion, and resumed transactions for 15 cryptocurrencies on Sunday. Binance disputed higher outflow figures from DefiLlama, saying they excluded deposits into its new hot wallet. The broader crypto market showed recovery, with Bitcoin trading above $78,000 on Monday, while Binance committed to covering losses using its corporate treasury and insurance funds.


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