Binance sees outflows stabilising as exchange returns online after $6.3 billion heist

Binance's customer withdrawals stabilized at $3.64 billion, representing 2.1% of its assets, as the exchange returned online after a $6.3 billion heist linked to North Korea occurred. Withdrawal levels are a test of investor trust in Binance following the security breach. The exchange covered 95% of the stolen assets. Bitcoin prices recovered slightly to above $78,000, while Ether hit a two-month low and recovered to $2,287.

Binance, with 335 million users and $171 billion in assets, said it had covered 95% of the stolen cryptocurrencies by buying replacement tokens and the remaining 5% consists of less liquid assets. Some users are considering hedging risks, diversifying custody arrangements and keeping less assets on single platforms. The attack, attributed to North Korea's TraderTraitor unit, was fast and similar to previous large attacks. The FBI is monitoring potential further laundering of the stolen assets.