Binance sees $4bn withdrawals after North Korean crypto heist

Investors have withdrawn nearly $4bn from Binance after North Korean hackers stole $6.3bn from the cryptocurrency exchange, the largest heist in history. Withdrawals reopened Sunday following a three-day freeze, with customers pulling around $3.7bn by midday. The outflow is unlikely to threaten Binance, which holds over $150bn in total assets, but highlights market volatility as Bitcoin fell nearly 4pc since the attack. The FBI formally blamed Pyongyang's TraderTraitor hacking group, part of the Lazarus unit, for the theft executed in just 20 minutes. North Korean hackers have stolen an estimated $12.8bn in cryptocurrency over the past decade, funding weapons programmes. Binance has covered about 95pc of stolen funds from reserves, while Tether and Circle froze around $3bn of the initial haul.