KOREA TIMES · 2026-11-02 16:22 UTC

Binance clients pull $4.7 billion after hack as crypto world studies fallout

Binance customers withdrew $4.72 billion net after the exchange reopened following a $6.3 billion hack attributed by the FBI to North Korea. Binance said outflows represented 3% of platform assets and it would cover losses using corporate funds, insurance, and security reserves totaling $6 billion. Analysts noted limited fallout so far; spot bitcoin ETFs saw $643 million in outflows and over $1.3 billion in leveraged positions were liquidated.

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