Binance reports $3.64bn net outflow after reopening following crypto hack
Original report: date unavailable
Binance says withdrawals exceeded deposits by $3.64bn after transactions resumed following a breach affecting $6.3bn in digital assets. The exchange has pledged to cover customer losses, while investigators cited in the report attribute the attack to North Korean hackers.
Binance reported $4.649bn in withdrawals and $1.01bn in deposits during a specified trading window on November 1, producing a net outflow of about $3.64bn. According to the supplied BBC report, the exchange had suspended transactions after a hack affecting $6.3bn in digital assets. Binance said an early surge in withdrawals subsequently eased.
The company said it had covered roughly 95% of stolen assets and would absorb all losses. Withdrawals for more than two dozen major cryptocurrencies had resumed, with other services awaiting security checks. The report says the FBI linked the attack to North Korea's TraderTraitor group. Chainalysis said stolen funds were still being actively laundered across thousands of addresses.
The reported breach concerns Binance.com, the company's global centralised exchange; its US-facing platform said it was unaffected. Binance said it drew on its corporate treasury, futures insurance and emergency reserves to replace customer assets. Those distinctions matter because the report does not describe identical exposure across all Binance services.
Source
BBC News
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