Binance sees outflows stabilising as exchange returns online after $6.3 billion heist
Binance is experiencing stabilizing withdrawal levels following a massive $6.3 billion security breach linked to North Korean actors. While the exchange has resumed operations and claims to have covered most of the stolen assets, the incident remains one of the largest financial robberies in history.
Why it matters
The stability of the world's largest crypto exchange is a critical indicator of market confidence and systemic risk within the digital asset ecosystem.
Binance customers pulled $3.64 billion, or 2.1% of its assets, as the world’s biggest cryptocurrency exchange resumed service after a security breach linked to North Korea saw $6.3 billion stolen from the platform last week. What we know about Binance’s multi-billion-dollar crypto hack | Explained storyline 1 The exchange moved to reassure crypto investors and said withdrawals were stabilising after an initial spike and deposit volumes had remained “substantial” after, what analysts believe, may be the world’s biggest financial robbery ever. After hitting a six-week low on Friday, bitcoin prices recovered slightly through the weekend to trade above $78,000 on Monday. Ether hit a two-month low on Friday and also recovered a little to $2,287.
Headlinne story · 8 newsrooms
Binance Resumes Withdrawals After Hackers Steal Billions in Crypto
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