THE INDEPENDENT · 2026-11-02 04:17 UTC

Binance users withdraw over $4bn as crypto exchange reopens after record hack

Binance processed $4.65bn in withdrawals and $1.01bn in deposits on November 1st after reopening following a $6.4bn hack attributed to North Korean state-sponsored group TraderTraitor. The exchange has recovered 95% of stolen cryptocurrencies and says it will absorb all losses without passing them to users. Net outflow of $3.64bn represents just over 2% of Binance's $171bn in total assets; withdrawal volumes have stabilized after initial spike.

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