Binance sees more than $4.6 billion in withdrawals after largest crypto hack in history - Yahoo Finance
Binance, the world's largest cryptocurrency exchange, has experienced $3.64 billion in net outflows after the largest crypto hack in history, which the FBI has linked to North Korea.
The exchange processed $4.649 billion in withdrawals and approximately $1.01 billion in deposits since gradually restoring user access. The net outflows represent just 2.1% of Binance's $171 billion in total assets under management.
Hack Details
The attack occurred on October 29, 2026, impacting roughly $6.3 billion in funds, with approximately half of those assets frozen. Binance has covered approximately 95% of the affected amount, with the remaining 5% consisting of smaller, less liquid tokens.
Investigation Response
The FBI has confirmed that North Korea was responsible for the theft. Around $3.24 billion remains in addresses linked to the theft, according to blockchain analytics company Elliptic. Customer withdrawals were temporarily suspended, with co-CEO Richard Teng promising the exchange will cover all losses.
We continue working with industry partners to complete the remaining acquisitions.
Market Impact
The attack has significantly impacted crypto markets, with bitcoin trading at around $77,700 and ether dropping to roughly $2,200. The total crypto market has lost approximately 3% in value, or $80 billion, over the last seven days, according to CoinMarketCap data.
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