Binance customers withdrew $7.4 billion from the cryptocurrency exchange after it suffered what security experts described as serious. largest digital coin theft ever recorded.
On Monday, a Binance spokesperson said customers also deposited $2.7 billion after the company allowed people to resume activity. transactions Sunday for Bitcoin, Ethereum and other cryptocurrencies, leading to a net outflow of $4.7 billion in the company’s holdings.
Binance, the world’s largest cryptocurrency exchange with more than 300 million users, said the value of withdrawn crypto holdings represents just 3% of its $157 billion in total assets.
“Net outflows represent a relatively small portion of Binance’s overall asset base,” the Binance spokesperson said in an email. “Withdrawal levels are stabilizing at what we would consider normal and expected on-chain activity.”
North Korea denies any involvement
The withdrawals occurred after cybercriminals, who the FBI linked to North Korea, stole $6.3 billion in digital currency from Binance.
North Korea denies any involvement in the attack. On Tuesday, Kim Yo Jong, the sister of North Korean leader Kim Jong Un, called the FBI’s announcement a “banal provocation” and “absurd rhetoric.”
“This is not the first time that the United States has attempted to sow misunderstanding about the DPRK in the international community, blindly linking the DPRK to ‘cybercrime’ incidents whenever they occur internationally,” she said in a statement, using the abbreviation of North Korea’s official name, the Democratic People’s Republic of Korea.
3 billion dollars frozen
According to Binance, approximately $3 billion in stolen assets have been frozen. Freezing crypto funds allows certain issuers to block the transfer of their tokens anywhere in the world.
The hacker group believed to be responsible for the attack, known as “TraderTraitor,” was converting most of the stolen assets into Ethereum in an effort to hide their tracks, the FBI said Saturday. TraderTraitor was also responsible for a February 2025 attack on another crypto exchange, Bybit, which resulted in a $1.5 billion loss, according to the FBI.
Following the Binance attack, the FBI encouraged private sector entities “to block transactions with or derived from the addresses that TraderTraitor actors use to launder these stolen assets.”
Binance promised to cover all losses using company funds. Early Sunday morning, he said he had covered about 95% of the amount involved.
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