KHALEEJ TIMES · 2026-11-02 17:28 UTC

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

Binance customers withdrew $4.72 billion net after hackers stole $6.3 billion in crypto, with the FBI attributing the attack to North Korea's TraderTraitor group. The exchange froze withdrawals for 48 hours then reopened; outflows represent about 3% of platform assets, with analysts noting customer confidence has largely held. Bitcoin recovered to near $78,000 and spot bitcoin ETFs saw $643 million in outflows on Friday; Binance said it will cover losses using company funds and has raised $6 billion from reserves.

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