Binance customers pull $4.6 billion after massive heist

Customers withdrew more than $4.6 billion from Binance following a cryptocurrency theft that security experts described as the largest in the exchange's history.

Binance reported that users deposited just over $1 billion after the platform allowed withdrawals to resume on Sunday for Bitcoin, Ethereum, and other digital assets. This activity resulted in a net outflow of $3.64 billion from the platform.

The exchange, which serves more than 300 million users globally, stated that the value of the withdrawn holdings represents 2.1% of its total assets, which stand at $171 billion. Yi He, a cofounder of Binance, posted on X early Monday that ensuring a secure environment was the top priority before resuming full operations.

The withdrawals occurred after cybercriminals stole $6.3 billion in digital currency from the exchange. The FBI linked the attackers to North Korea and identified the group as TraderTraitor. Binance said it froze roughly $3 billion of the stolen assets, a process that allows issuers to block token transfers worldwide.

On Saturday, the FBI noted that TraderTraitor was converting most of the stolen funds into Ethereum to obscure their trail. The agency encouraged private companies to block transactions involving addresses used by the hackers. TraderTraitor is also credited with a February 2025 attack on Bybit, another crypto exchange, which caused a $1.5 billion loss.

Binance has committed to covering the full losses using its own funds. By early Sunday morning, the company reported it had covered approximately 95% of the impacted amount.