Binance faces billions in withdrawals after reopening following $6.3B hack
Binance has seen billions of dollars pulled from the platform after resuming withdrawals in the wake of a $6.3 billion hack, though the exchange reports that outflow volumes are now stabilizing.
Binance has experienced a surge of withdrawals after reopening access to customer funds following a $6.3 billion cryptocurrency theft. Outflow estimates quickly topped $4 billion, according to reports from Cointelegraph and Whale Insider, while crypto media outlets including Watcher Guru and Crypto Briefing reported that more than $3.75 billion left the exchange within the first 10 hours of operations resuming.[1][2][3][5][6]
Binance disclosed that it processed $4.649 billion in withdrawals and $1.01 billion in deposits since reopening, leaving a net outflow of roughly $3.64 billion. The exchange stated that the net outflows represented about 2.1% of its $171 billion in assets under management, adding that withdrawal volumes have declined and are stabilizing as expected. Tracking service DefiLlama similarly recorded more than $3.5 billion in net outflows on Sunday.[4][7]
Data from CryptoQuant charts shared alongside reports indicated that withdrawals included roughly 1.96 billion in USDT, 1.53 billion in Bitcoin, and nearly 558 million in Ethereum. Binance stated that it has already replaced 95% of the stolen assets. Meanwhile, the FBI has attributed the $6.3 billion exploit to North Korea's TraderTraitor hacking syndicate, though President Trump stated that the country's involvement remains uncertain.[1][3][7]
Key facts
- Binance resumed customer withdrawals following a reported $6.3 billion hack.
- Reports from outlets including Cointelegraph and Whale Insider noted over $4 billion in gross withdrawals, with over $3.75 billion exiting within the first 10 hours.
- Binance disclosed processing $4.649 billion in withdrawals against $1.01 billion in deposits, creating a net outflow of roughly $3.64 billion, or 2.1% of its $171 billion AUM.
- Binance said it has replaced 95% of the stolen assets and that withdrawal volumes have declined and are stabilizing.
- The FBI attributed the hack to North Korea's TraderTraitor group, while President Trump said North Korea's involvement remains uncertain.
Sources · 7 sources
- WI
Whale Insider@WhaleInsiderPost on X ·
JUST IN: Binance has reportedly seen over $4 billion in asset outflows since reopening withdrawals following the $6.3 billion hack. https://t.co/3NvwDrOx6f
Open source - CB
Crypto BriefingArticle ·
Binance sees nearly $3.8 billion withdrawn in 10 hours after reopening The massive withdrawal highlights significant trust issues in the crypto market, emphasizing the need for enhanced security and transparency measures. The post Binance sees nearly $3.8 billion withdrawn in 10 hours after reopening appeared first on Crypto Briefing .
Open source - CO
Cointelegraph@CointelegraphPost on X ·
🚨 UPDATE: More than $4 billion in assets have reportedly been withdrawn from Binance since withdrawals resumed following the $6.3 billion hack. https://t.co/vBmDwENi7f
Open source - DN
DEGEN NEWS@DegenerateNewsPost on X ·
NEW: @binance SAYS IT PROCESSED $4.649B IN WITHDRAWALS AND $1.01B IN DEPOSITS SINCE REOPENING, A NET OUTFLOW OF ~$3.64B OR 2.1% OF ITS $171B AUM "WITHDRAWAL VOLUMES HAVE DECLINED AND ARE STABILISING AS EXPECTED" https://t.co/oup0wGX8TT
Open source - WG
Watcher.Guru@WatcherGuruPost on X ·
JUST IN: Over $3,750,000,000 withdrawn from Binance in 10 hours following the exchange resuming withdrawals. https://t.co/uBses7zbbY
Open source - CP
Crypto Patel@CryptoPatelPost on X ·
JUST IN: Binance has reportedly seen over $4 billion in withdrawals since reopening after the $6.3 billion hack. Are users losing confidence in Binance? https://t.co/Ou2H7sUZo1
Open source - *B
*Walter Bloomberg@DeItaonePost on X ·
BINANCE SEES $3.5 BILLION IN OUTFLOWS AFTER RECORD $6.3 BILLION HACK Binance recorded more than $3.5 billion in net outflows Sunday, according to DefiLlama, after resuming withdrawals following a $6.3 billion cryptocurrency theft. The exchange says it has replaced 95% of stolen assets, with withdrawals now stabilizing. The FBI attributed the attack to North Korea’s TraderTraitor hacking group, although President Trump said the country’s involvement remains uncertain.
Open source