Binance sees more than $4.6 billion in withdrawals after largest crypto hack in history

Binance has seen $3.64 billion in net outflows since it gradually restored user withdrawals following the largest crypto hack in history, which the FBI linked to North Korea.

The world's biggest cryptocurrency exchange said that it processed $4.649 billion in withdrawals and approximately $1.01 billion in deposits. Binance detailed that the resulting net outflows represent just 2.1% of its $171 billion in total assets under management.

Binance was hit late Thursday by a hack that investigators said impacted roughly $6.3 billion in funds, with roughly half of those assets frozen.

On Monday, the exchange said it has covered approximately 95% of the impacted amount. The outstanding 5% consists of smaller tokens outside of the top 10 cryptocurrencies, whose assets are less liquid and will take longer to source.

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"We continue working with industry partners to complete the remaining acquisitions," Binance said in an update on X.

Over the weekend, the FBI said the attack was linked to North Korea.

"The Federal Bureau of Investigation (FBI) is releasing information advising the Democratic People's Republic of Korea (North Korea) was responsible for the theft of more than $6 billion USD in virtual assets from cryptocurrency exchange Binance, on or about October 29, 2026," a press release said.

Customer withdrawals were temporarily suspended, and co-CEO Richard Teng promised the exchange will cover all losses.

Teng said the hack was not carried out by one person. Initial findings pointed to a compromised laptop, but further review revealed broader security breaches.

"This was a complex attack," Teng said. "The attacker also used a self-destruct mechanism that destroyed tooling and tracers."

Around $3.24 billion remains in addresses linked to the theft, according to Tom Robinson, chief scientist and co-founder at blockchain analytics company Elliptic.

The attack has rattled crypto markets, and bitcoin ( BTC-USD ) traded at around $77,700 on Monday. Meanwhile, the total crypto market has lost roughly 3% in value, or $80 billion, over the last seven days, according to CoinMarketCap data.

Other major crypto assets also tumbled after the hack, with ether ( ETH-USD ) dropping to roughly $2,200. Binance's native token, BNB ( BND-USD ), also fell.