businessBREAKING
Binance Suffers $6.3 Billion Theft as FBI Says It Knows the Culprit
Binance hit by $6.3 billion theft; experts identify North Korea as the probable culprit.
Key points
- By Sunday afternoon Binance had processed $4.6 billion in withdrawals and $1 billion in deposits.
- Changpeng Zhao warned on X that scammers are now targeting people trying to pull money from the platform.
- BlackRock's IBIT saw $233.7 million in outflows on Friday, while Fidelity's FBTC lost $201 million.
Why it matters. The hack has spooked the market, and the warning that scammers are targeting people withdrawing funds could add risk for customers pulling money out.
Binance was hit by a $6.3 billion theft on Thursday, and experts identified North Korea as the probable culprit. By Sunday afternoon the platform had processed $4.6 billion in withdrawals and $1 billion in deposits, a net outflow of about $3.6 billion, or 2.1% of its $171 billion in total assets under management. Nick Forster, chief executive of Derive.xyz, said US spot Bitcoin ETFs recorded $643 million in net outflows on Friday.
Latest updates
Binance Suffers $6.3 Billion Theft as FBI Says It Knows the Culprit
Crypto exchange Binance was hit by a theft of $6.3 billion on Thursday. The FBI says it knows who carried out the attack. Binance's founder has warned that crypto scammers are now in overdrive. Customers are pulling billions of dollars from their accounts as the platform recovers. The incident has been described as a record hack.
Binance Investors Withdraw $3.6bn as Exchange Resumes Withdrawals After Hack
Cryptocurrency exchange Binance has begun allowing customer withdrawals again after a hack that stole $6.3bn. The theft is believed to have come from North Korea. Investors have pulled out about $3.6bn from the exchange since withdrawals resumed. The withdrawals show how quickly customers are moving funds after one of the largest crypto thefts on record. The exchange has said it will cover customer losses. Further details on the outflows and the status of stolen funds were not confirmed in the source.