Binance clients pull US$4.7bil after hack as crypto world studies fallout
SINGAPORE: Binance’s customers have withdrawn a net US$4.72 billion from the world’s biggest cryptocurrency exchange since it reopened, after hackers stole around US$6.3 billion of crypto from the platform in what could be the largest-ever financial heist.
Binance, the world's largest cryptocurrency exchange, is facing challenges after hackers stole around US$6.3 billion from its platform. Since the hack, Binance customers have withdrawn a net US$4.72 billion from the exchange. The FBI attributes the attack to North Korea, marking an escalation in the country's crypto thefts, which have stolen US$7.4 billion so far in 2026.
Binance has vowed to repay customers in full and has set aside US$6 billion from its corporate treasury, an insurance fund, and security breach reserves to cover the losses. Analysts and experts say the fallout appears limited so far, and there is no significant impact on broader financial markets.
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