After crypto heist, Binance customers withdraw $4.6 billion; exchange replaces 95% of stolen funds
Withdrawals After Trading Resumed
Binance said customers withdrew more than $4.6 billion after the exchange reopened transactions Sunday for Bitcoin, Ethereum and other cryptocurrencies. Customers also deposited just over $1 billion, producing a net outflow of $3.64 billion.
The exchange, which has more than 300 million users, said the withdrawn crypto holdings amounted to 2.1% of its $171 billion in total assets. Binance cofounder Yi He said the company’s immediate priority was securing the platform before users withdrew funds and operations resumed.
FBI Links Theft To North Korea
The FBI linked the cybercriminals to North Korea and said $6.3 billion in digital currency was stolen from Binance. Binance said roughly $3 billion of the stolen assets had been frozen. Certain crypto issuers can freeze funds by blocking token transfers worldwide.
The FBI said the group believed responsible, known as TraderTraitor, was converting most of the assets into Ethereum to conceal its movements. The bureau also attributed a February 2025 attack on Bybit, which caused a $1.5 billion loss, to TraderTraitor.
Binance Pledges To Cover Losses
The FBI urged private-sector organizations to block transactions involving addresses TraderTraitor actors were using to launder the stolen assets. Binance said it would cover the full losses with company funds.
Key points
- Binance reported more than $4.6 billion in customer withdrawals and a net outflow of $3.64 billion.
- The FBI linked the $6.3 billion theft to North Korea and identified TraderTraitor as the suspected group.
- Binance said about $3 billion in stolen assets had been frozen.
- The exchange said it had covered around 95% of the affected amount by early Sunday.