Binance Resumes Withdrawals After $6.3 Billion Hack
Binance reopened withdrawals in stages on Sunday after hackers took $6.3 billion in crypto. Customers withdrew a net $3.64 billion within hours.
$4.65 billion withdrawn and $1.01 billion deposited by 3:30 p.m. UTC Sunday.
2.1% of Binance's $171 billion in assets left the platform, net.
15 tokens reopened first, including bitcoin, ether, USDT and USDC.
$6.34 billion in company funds set aside to cover losses.
Why it matters: Withdrawal levels show whether customers will keep money on an exchange that lost billions in about 20 minutes. Binance has 335 million registered users.
The FBI named TraderTraitor, a North Korean state-sponsored unit, and expects more laundering.
Bitcoin fell nearly 5% and Binance's BNB token nearly 10% after the hack.
Binance Resumes Withdrawals After $6.3 Billion HackYou are hereLatest
How 10 sources split on this story
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10 sources · 13 articles · 50% Center coverage
Where they split: Reports differ on figures: Binance says it has covered 95% of stolen assets, while The Guardian cites a 90% figure, and DefiLlama put outflows at $4.36 billion, which Binance disputes.
Center coverage, 5 sources: The center focuses on the scale of withdrawals as the exchange reopened and Binance's pledge to cover all losses.
Left coverage, 4 sources: The left emphasizes investors pulling billions after a record heist and North Korea's ability to raise money through hacking despite sanctions.
Right coverage, 1 sources: The right frames the reopening as a trust test, noting President Trump's doubt about North Korea's role and his pardon of founder Changpeng Zhao.
What’s next: Binance says remaining networks will reopen in phases after testing. It still must source less liquid tokens to cover the rest of the losses.
A fuller proof-of-reserves report is expected Monday.
Binance promises an in-depth incident report when its investigation is done.
How much of the stolen crypto can be frozen or recovered before it is laundered?
Will outflows keep slowing as more networks reopen?
Will the US respond to North Korea, given President Trump said its role remains unclear?
