Binance sees $4.6 billion in withdrawals after $6.3 billion crypto heist

Customers withdrew more than $4.6 billion from Binance following a security breach that security experts described as a major theft. The exchange, which serves more than 300 million users, reported that these withdrawals accounted for just 2.1% of its total $171 billion in assets.

The financial shock occurred after cybercriminals stole $6.3 billion in digital currency. The FBI linked the attack to North Korean actors. According to Binance, roughly $3 billion of the stolen assets were frozen. Freezing funds allows specific issuers to block token transfers globally.

The hacker group identified as TraderTraitor converted most of the stolen assets into Ethereum to obscure their trail, the FBI stated on Saturday. The agency noted that TraderTraitor was also responsible for a February 2025 attack on the Bybit exchange, which resulted in a $1.5 billion loss. Following the incident, the FBI advised private-sector entities to block transactions involving addresses used by TraderTraitor to launder the assets.

Binance resumed deposit and withdrawal operations for Bitcoin, Ethereum, and other cryptocurrencies on Sunday. The company reported that customers deposited just over $1 billion during this period. This activity resulted in a net outflow of $3.64 billion from the platform.

Binance cofounder Yi He said in a post on X early Monday that the top priority is ensuring a secure environment so users can withdraw funds and the company can resume operations. The company promised to cover the full losses using its own funds. By early Sunday morning, Binance stated it had covered around 95% of the impacted amount. Binance did not immediately respond to a request for comment.