Crypto Heist Fallout: Binance Sees $4.6 Billion in Withdrawals

Binance customers withdrew more than $4.6 billion from the platform following a major cyberattack, according to data released by the exchange. The withdrawals occurred after the company allowed users to resume transactions on Sunday for Bitcoin, Ethereum, and other digital assets.

The net outflow for the exchange totaled $3.64 billion. This figure accounts for deposits of just over $1 billion that came in after trading reopened. Binance, which serves more than 300 million users, stated that the value of assets leaving the platform represents 2.1% of its total $171 billion in holdings.

Yi He, a cofounder of Binance, said the company's primary focus is securing its environment. "Our top priority right now is to ensure the environment is secure, after which users can withdraw their funds, and Binance can resume operations," He wrote on X early Monday. The exchange did not immediately respond to a request for comment regarding the specific timeline of the freeze.

The FBI linked the theft of $6.3 billion in digital currency to North Korean actors. The agency identified the hacker group as "TraderTraitor." Investigators noted that the group was converting stolen assets into Ethereum to obscure the trail. The FBI said the group was also responsible for a February 2025 attack on Bybit, which cost that exchange $1.5 billion.

Roughly $3 billion of the stolen assets were frozen, a process that allows token issuers to block transfers globally. Following the attack, the FBI urged private sector entities to block transactions involving addresses used by TraderTraitor to launder money. Binance stated it has covered approximately 95% of the impacted amount using company funds as of early Sunday.