Binance reopens withdrawals after €5.5bn heist, with €3.2bn leaving in the first day
Binance resumed cryptocurrency withdrawals in phases after a security breach that the FBI attributed to North Korea’s TraderTraitor unit; the exchange put the theft at about €5.5 billion ($6.3 billion). Binance reported €3.2 billion ($3.64 billion) in net outflows during its stated reopening window, 2.1% of its €158 billion ($171 billion) in assets. The company said it had covered about 95% of the financial impact, while the remaining tokens could take longer to source.
Bottom line — Binance says it has covered 95% of the €5.5bn ($6.3bn) impact; its withdrawal figures remain disputed.
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Binance said it processed €4.1bn ($4.649bn) in withdrawals and €890m ($1.01bn) in deposits between 06:00 and 15:30 UTC on 1 November.
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The first reopening phase covered 15 networks and assets; Binance said withdrawals would return in stages after security checks.
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DefiLlama reported €5.4bn ($5.81bn) in outflows over 24 hours, against Binance’s €3.2bn ($3.64bn) figure for its stated window. Binance disputed DefiLlama’s earlier estimate, citing flows into its new hot wallet.
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Binance said the remaining 5% involved less-liquid tokens that may take longer to source; it has pledged to cover the full financial impact.
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The FBI said it had observed TraderTraitor converting stolen assets into ether and urged companies to block transactions linked to identified wallet addresses.
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Binance’s initial investigation pointed to a compromised engineer’s laptop as a possible route into its systems; the company has not published a complete technical account.
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Bitcoin ETFs recorded €565m ($643m) in outflows on Friday, while more than €1.1bn ($1.3bn) in leveraged positions were liquidated, according to TRM Labs policy chief Ari Redbord.