Binance Faces Billions in Withdrawals After Record Hack

WHO:

Bitcoinist - Binance and Binance-linked wallets were involved in the withdrawal activity.

Entrepreneur - The FBI publicly blamed North Korea’s TraderTraitor unit for the security breach.

Yahoo Finance - Binance is the world’s biggest cryptocurrency exchange; its co-CEO Richard Teng said the exchange would cover all losses.

Yahoo Finance - The FBI linked North Korea to the attack. Tom Robinson, chief scientist and co-founder of blockchain analytics company Elliptic, reported that funds remained in addresses linked to the theft.

WHAT:

Bitcoinist - Binance-linked wallets recorded approximately $6.1 billion in outflows within 24 hours of withdrawals resuming—about 3.6% of the exchange’s previously reported $171 billion in assets.

Bitcoinist - Binance said withdrawal demand was stabilising and that it had replenished approximately 95% of the assets affected by the hack.

Entrepreneur - Hackers stole $6.3 billion from Binance in what the article described as the biggest crypto heist ever.

Yahoo Finance - Binance processed $4.649 billion in withdrawals and approximately $1.01 billion in deposits, resulting in $3.64 billion in net outflows. Binance said those net outflows were 2.1% of its $171 billion in total assets under management.

Yahoo Finance - The hack affected roughly $6.3 billion in funds, with about half frozen. Binance said it had covered approximately 95% of the affected amount; the remaining 5% consisted of less-liquid smaller tokens outside the top 10 cryptocurrencies.

Yahoo Finance - Robinson said approximately $3.24 billion remained in addresses linked to the theft.

Yahoo Finance - Bitcoin traded at around $77,700, ether at roughly $2,200, and Binance’s native token BNB fell. The total crypto market lost roughly 3%, or $80 billion, in value over the preceding seven days.

WHERE:

Yahoo Finance - The FBI attributed the theft to North Korea.

Yahoo Finance - Approximately $3.24 billion remained in addresses linked to the theft; the article did not specify their location.

WHY:

Yahoo Finance - The remaining affected assets were less liquid and would take longer to source.

HOW:

Yahoo Finance - Binance temporarily suspended customer withdrawals, then gradually restored them.

Yahoo Finance - Teng said initial findings pointed to a compromised laptop, but further review revealed broader security breaches. He said: “This was a complex attack. The attacker also used a self-destruct mechanism that destroyed tooling and tracers.”

Yahoo Finance - Binance said: “We continue working with industry partners to complete the remaining acquisitions.”

(UPDATED November 2, 2026 19:03 UTC)

The FBI blamed North Korea’s TraderTraitor unit for a $6.3 billion Binance heist. Binance restored withdrawals and says it has replaced about 95 percent of stolen assets. About $3.24 billion remains in wallets linked to the theft, while losses strained crypto markets.