Binance sees $4.6 billion in withdrawals after largest crypto hack in history
Binance experienced $3.64 billion in net outflows after restoring withdrawals following the largest crypto hack in history, which the FBI linked to North Korea. The exchange processed $4.649 billion in withdrawals against $1.01 billion in deposits. The outflows represent just 2.1% of Binance's $171 billion in total assets under management. The hack, discovered late Thursday, impacted roughly $6.3 billion in funds, with about half frozen. Binance says it has covered approximately 95% of the impacted amount, with the remainder involving less liquid smaller tokens. The FBI attributed the theft to North Korea, and co-CEO Richard Teng promised full coverage of losses, describing it as a complex attack with self-destruct mechanisms. Around $3.24 billion remains in linked addresses, and bitcoin traded near $77,600 as the total crypto market lost about $80 billion over seven days.