The Morning Risk Report: Binance Resumes Withdrawals After Suffering Biggest-Ever Crypto Hack
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Since reopening following a massive hack that saw $6.3 billion of cryptocurrency stolen, Binance's customers have withdrawn about $4.72 billion in net withdrawals, according to a Binance spokesperson.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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- Binance says customers pulled net $4.7 billion after hack as crypto world weighs risk brecorder.com
- Binance clients pull US$4.7bil after hack as crypto world studies fallout freemalaysiatoday.com
- Binance hack could become largest crypto heist in history, with over $6bn at risk arabianbusiness.com
- Bitcoin’s resilience after Binance hack masks market jitters moneyweb.co.za
- Binance hack fallout, U.S. midterms and jobs report: Crypto Week Ahead coindesk.com
