Binance hack prompts users to withdraw $3.64bn after record crypto heist
Withdrawals after reopening
Binance said it processed $4.649bn in withdrawals and $1.01bn in deposits between 06:00 and 15:30 GMT on November 1. The difference was a net outflow of approximately $3.64bn.
The exchange said that amount represented just over 2% of the $171bn in assets it manages. Withdrawals for more than two dozen major cryptocurrencies, including Bitcoin and Ethereum, have resumed.
Services return in phases
Binance said further services would return gradually after security checks are completed. The attack affected Binance.com, its global centralised exchange. The company said its US-facing platform was not affected. It also said it had replaced customers’ assets using its corporate treasury, futures insurance and emergency reserve funds.
North Korea accused
The group stole a then-record $1.5bn from crypto exchange Bybit in 2025. After the Binance attack, the exchange urged cryptocurrency issuers to freeze affected assets.
Key points
- Binance reported a net outflow of approximately $3.64bn on November 1.
- The outflow amounted to just over 2% of Binance’s $171bn in managed assets.
- Withdrawals for more than two dozen major cryptocurrencies have resumed.
- The FBI and other organisations have accused North Korea of responsibility for the attack.