Binance Users Withdraw $3.6bn Following Record Crypto Heist
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Binance users withdraw $3.6bn after record crypto hack
Image source: Reuters
By Osmond Chia Business reporter
Published 2 November 2026, 00:26 GMT
Updated Just now
Binance customers withdrew over $3.6bn (£2.7bn) of assets from the world's largest cryptocurrency exchange as it reopened on Sunday following a record hack last week.
The firm suspended all transactions after a hack that impacted $6.3bn worth of digital assets. Major organizations, including the US Federal Bureau of Investigation (FBI), have accused North Korea of being responsible for the cyber attack, described as the largest in history.
Binance claims to have covered around 95% of the assets stolen in the breach, but the remaining amount may take longer to source. The company has assured users it will cover all losses linked to the attack.
There was a "initial spike" in withdrawals, which later declined and "are stabilising as expected", Binance stated on X. It added that withdrawals for major cryptocurrencies like Bitcoin and Ethereum have resumed, and more services will be restored in phases once security checks are completed.
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Watch: What we know about Binance's $6.3bn hack and what to do if you're affected
The hack affected Binance's global centralized exchange, Binance.com, while its US-facing platform has stated it was not impacted.
According to Binance, initial investigations suggest the incident may have begun with a compromised laptop belonging to an engineer, allowing hackers to gain unauthorized access and make transactions.
The withdrawn crypto represents a small fraction of the total value of assets held by Binance. The company reported in 2024 that it held over $160bn in assets in its custody.
Cryptocurrencies are digital assets traded on exchanges such as Binance. Unlike cash, they do not exist in physical form and are managed on computers, smartphones, and other digital devices.
Binance, founded in China, boasts hundreds of millions of registered users worldwide.