Binance sees $3.64 billion in net outflows as withdrawals resume after massive hack

Binance has resumed allowing customers to withdraw funds from the platform following a record $6.3bn hack. The cryptocurrency exchange had to suspend withdrawals due to the theft that occurred on Thursday. After a phased reopening, Binance first permitted customers holding ethereum, USDT, and USDC tokens on the Ethereum blockchain, as well as some assets on the BNB Smart Chain, to retrieve their funds. Other token holders, including those of dogecoin and solana, were also granted withdrawal access.

The company explained that the phased approach aimed to restore each network and asset pair carefully, ensuring stability and security before reopening access. Binance prioritized tokens based on user demand, acknowledging that some users might face temporary delays or longer processing times due to traffic volume. The platform reported that it had replenished 90% of the stolen funds, funded by its own revenue and an emergency reserve.

The remaining 10%, deemed "less liquid," may take longer to recover, as they are more challenging to convert into cash.

The FBI attributed the hack to a group of hackers known as TraderTraitor, who are believed to be linked to North Korea's Lazarus Group. This notorious hacking collective has a history of cyberattacks, including a $1.5bn theft of the crypto exchange Bybit in 2025. The FBI urged private entities to block transactions involving addresses used by TraderTraitor to launder the stolen assets.

Binance has committed to reimbursing customers for the stolen assets, emphasizing that the company is dedicated to ensuring users do not bear the financial impact of the attack. The firm is actively collaborating with law enforcement to investigate the breach and is currently rebuilding and retesting its entire infrastructure program.