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Binance Customers Withdraw $3.6 Billion After Crypto Hack

Binance customers withdraw $3.6 billion as crypto exchange reopens after hack

Updated 2 min read

Key points

  • Binance says it has covered around 95% of the assets stolen in the breach.
  • Binance said early checks suggest the incident may have started with a compromised laptop belonging to an engineer.
  • The FBI published a list of cryptocurrency wallet addresses linked to the group and urged industry partners to block related transactions.

Why it matters. Binance says it will fully cover the financial impact of the stolen funds, and more services will resume in phases once security checks are completed.

Binance reopened on Sunday after suspending all transactions, with $3.6 billion of assets withdrawn from the world's biggest cryptocurrency exchange following what is believed to be the largest hack in history. The firm said it has covered around 95% of the $6.3 billion in assets affected, and Sunday's net withdrawals were just over 2% of the $171 billion under its management. Binance said withdrawals of more than two dozen major cryptocurrencies, including Bitcoin and Ethereum, have resumed.

Latest updates

Binance Customers Withdraw $3.6 Billion After Crypto Hack

Binance customers withdrew $3.6 billion (£2.7 billion) of assets after a hack, according to BBC reporting citing Reuters. The exchange froze transactions following the incident. The breach has been linked to a North Korean group. The withdrawals show the scale of customer reaction to the attack. The source provided does not give further details on the amount stolen.

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FBI blames North Korea for record $6 billion Binance crypto theft

The FBI has blamed North Korea's state-sponsored hacking unit, TraderTraitor, for stealing about $6.3 billion in cryptocurrency from Binance, the world's largest crypto exchange. The October 29 attack is considered the largest cryptocurrency theft on record. The FBI says the stolen assets are being converted mainly into Ethereum, and it expects them to be laundered further through decentralized finance and instant swap services. Binance says it has covered about 90 percent of the losses using its own funds, including a user protection fund, an insurance fund and corporate reserves. The exchange has pledged to absorb the full financial impact so that users suffer no losses, and it has resumed bitcoin and Ethereum withdrawals. Investigators have linked the attack to earlier North Korean heists, including the 2025 Bybit hack worth $1.5 billion. Around $3 billion in the stolen assets has been frozen so far, and Binance's investigation into how the breach happened is continuing.

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