Binance sees outflows stabilising as exchange returns online after $6.3 billion heist
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.
Binance, the world's largest cryptocurrency exchange, experienced a $6.3 billion heist last week, with $3.64 billion in withdrawals, representing 2.1% of its assets. The platform, founded in China and active in 335 million global user accounts, reassured investors by stating withdrawals were stabilising after an initial spike. The exchange had already covered 95% of the stolen assets by using company funds to purchase replacement tokens.
Binance noted that the outflows were likely a precautionary reaction rather than capital flight. Bitcoin prices recovered slightly to above $78,000, while Ether hit a two-month low of $2,287. The theft is considered one of the biggest financial robberies ever, adding to a string of recent crypto thefts.
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