Binance withdrawals spike after $6.3B hack, exchange restores operations
Binance customers withdrew $3.64 billion, or 2.1% of its assets, as the world’s largest cryptocurrency exchange resumed operations on Sunday following a $6.3 billion hack attributed by the FBI to North Korea. The exchange said withdrawals were stabilizing after an initial spike, with deposit volumes remaining "substantial," and it has covered 95% of the stolen assets using company funds. Crypto analytics platform DefiLlama reported higher outflows of $4.36 billion, which Binance disputed as inaccurate. The heist, potentially the largest financial robbery ever, unfolded in about 20 minutes on Thursday. Binance is replenishing its $1 billion SAFU reserve after using half of it, while the FBI expects further laundering of stolen assets.