Binance says customers pulled net $4.7 billion after hack as crypto world weighs risk
Binance’s customers have withdrawn almost $5 billion from the world’s biggest cryptocurrency exchange since it reopened after a hack that saw $6.3 billion of crypto stolen from the platform in what could be the largest financial heist in history. Customers have withdrawn a net $4.72 billion since a suspension was lifted on Sunday morning, a spokesperson said. The exchange froze withdrawals for…
Since reopening following a massive hack that saw $6.3 billion of cryptocurrency stolen, Binance's customers have withdrawn about $4.72 billion in net withdrawals, according to a Binance spokesperson. This represents roughly 2.8% of the platform's total assets, suggesting that customer confidence remains largely intact. The FBI suspects North Korean hackers were responsible for the attack, which is being described as the largest financial heist in history.
Binance co-CEO Yi He stated that the company's primary concern is ensuring a secure environment before resuming withdrawals and operations. Trading volumes have surged across the crypto market in response to the incident, and analysts are concerned that this could signal a shift in investor sentiment towards greater caution when dealing with cryptocurrencies.
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