Binance users withdraw billions following record cyber attack
Binance customers withdrew over $3.6 billion in assets as the exchange resumed operations following a $6.3 billion digital asset breach.
Binance users withdrew more than $3.6 billion from the platform as it reopened on Sunday. The exchange had suspended all transactions following a significant cyber attack that resulted in the loss of $6.3 billion in digital assets.
The FBI and other international agencies have attributed the breach to North Korean actors. This incident is currently categorized as the largest cryptocurrency hack in history. Binance has committed to covering all losses and stated that it has already restored approximately 95% of the affected assets.
Binance reported an initial surge in withdrawals upon reopening, noting that activity has since stabilized. The exchange has resumed transactions for major cryptocurrencies like Bitcoin and Ethereum, with remaining services expected to return following thorough security audits.