Binance reopens after record hack, recovers 95% of stolen crypto

independent.co.uk —

Binance customers withdrew over $4.6 billion from the cryptocurrency exchange within hours of it reopening after a record $6.4 billion hack, with net outflows totaling approximately $3.64 billion on November 1. The exchange processed $4.649 billion in withdrawals and $1.01 billion in deposits between 6am and 3.30pm UTC, representing just over 2 percent of its $171 billion in total assets. Binance resumed withdrawals in phases on Sunday, prioritizing major cryptocurrencies like Bitcoin and Ethereum after a 48-hour suspension. Binance said 95 percent of the stolen tokens have been recovered and it will absorb the financial impact. The FBI linked the attack to North Korean state-sponsored hacking network TraderTraitor, which was observed converting stolen assets into Ethereum.


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