Binance hack: users withdrew about $3.6bn after record crypto heist
financeNov 2, 20264965
Binance customers withdrew about $3.6 billion of assets as the exchange reopened on Sunday after what the company says affected $6.3 billion of digital assets in what is believed to be the largest crypto hack in history. Binance said it processed $4.649 billion in withdrawals and $1.01 billion in deposits between 06:00 and 15:30 GMT on November 1, a net outflow of roughly $3.64 billion, equal to just over 2% of the $171 billion of assets it manages. The US Federal Bureau of Investigation and others have attributed the attack to TraderTraitor, also known as the Lazarus Group, and the FBI published linked wallet addresses asking partners to block transactions. Binance says it has covered roughly 95% of the stolen assets using corporate treasury, futures insurance and emergency reserve funds and has reserved more than $6.3 billion to deal with the fallout. Chainalysis senior manager Alec Zebrick told the BBC that stolen funds are still being actively laundered across many thousands of addresses and deposits. Binance said withdrawals in more than two dozen major cryptocurrencies, including Bitcoin and Ethereum, have resumed and that other services will return in phases after security checks. The firm also said preliminary checks point to a compromised laptop belonging to an engineer as a possible initial access vector.
