Symbolic imageBinance reopens withdrawals in phases as outflows stabilise after record hack
Binance resumed withdrawals in phases on Sunday, and customers pulled a net $3.64bn, 2.1% of assets. The exchange lost $6.3bn in a theft the FBI attributes to North Korea's TraderTraitor group.
Binance suspended withdrawals after the theft on Thursday, 29 October, and on Sunday began restoring them network by network. It started with ethereum, USDT and USDC on Ethereum and some BNB Smart Chain assets, and later added dogecoin and solana. Binance says it processed $4.65bn in withdrawals and $1.01bn in deposits in the first nine and a half hours. On Monday it said outflows had stabilised after an initial spike.
Losses covered
Binance says it has funded 95% of the stolen assets, up from 90%, from its own revenues and an emergency fund. It is buying the remaining 5%, which it calls less liquid. It announced an updated proof of reserves for Monday.
Laundering and investigation
The FBI said on Saturday it expects the funds, mostly swapped into ETH, to be laundered via DeFi services and instant exchanges, and urged providers to block listed addresses. Binance found a compromised engineer's laptop, later reported further breach points, and will publish a report.
Same actor in Japan
North Korean hackers are also named as behind a data leak at Japan's GMO.