Binance withdrawals spike after $6.3B hack, stabilize as exchange resumes

Binance customers withdrew $3.64 billion, or 2.1% of assets, as the exchange resumed operations Sunday following a $6.3 billion hack the FBI linked to North Korea, with withdrawals stabilizing after an initial spike. Binance said it covered 95% of stolen assets using company funds, while analysts called the heist potentially the largest financial robbery ever. The FBI identified the North Korean state-sponsored unit TraderTraitor as responsible, though President Trump said involvement remained unclear. The exchange, with 335 million users and $171 billion in assets, is replenishing its $1 billion SAFU fund after using half of it. Co-CEO Richard Teng described the breach as a complex attack involving a compromised laptop and evidence-deleting malware.