TECHINASIA · 2026-11-03 03:51 UTC

Binance faces $4.7b in outflows after crypto theft

Binance customers withdrew $4.72 billion in net outflows after the exchange resumed withdrawals on November 1, following a $6.3 billion crypto theft attributed by the FBI to North Korea's TraderTraitor group. Binance froze withdrawals for over two days, stating outflows represented about 3% of platform assets and pledging full customer repayment. Circle froze $1.1 billion in USDC tied to the theft, while Elliptic estimated hackers still controlled $3.28 billion; the US Treasury sanctioned North Korean cyber actors.

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