Following a cyberattack that impacted digital assets valued at $6.3 billion, Binance, the leading cryptocurrency exchange globally, witnessed withdrawals totaling around $3.64 billion (£2.72 billion) after resuming operations on Sunday.
The exchange temporarily halted transactions in light of the security breach. In a statement, Binance confirmed that it had recovered approximately 95% of the stolen funds and pledged to fully reimburse customers.
From 06:00 to 15:30 GMT on November 1, Binance processed withdrawals amounting to $4.649 billion and deposits of $1.01 billion, leading to a net withdrawal of $3.64 billion.
Initially, there was a significant spike in withdrawals, which eventually stabilized. This outflow accounted for just over 2% of the exchange’s assets under management, totaling $171 billion.
The cyberattack has been linked to TraderTraitor, also recognized as the Lazarus Group, a North Korean cybercrime organization previously associated with the Bybit hack in 2025, which resulted in losses of $1.5 billion.
The FBI has issued wallet addresses tied to this group and urged stakeholders in the industry to halt any transactions linked to them.
Binance indicated that early investigations pointed to a compromised laptop belonging to one of its engineers as a possible factor in the unauthorized transactions. While the global platform was affected, its US-based exchange remained secure.
To cover the losses, Binance utilized resources from its corporate treasury, futures insurance, and emergency reserves. Withdrawals for over two dozen prominent cryptocurrencies, such as Bitcoin and Ethereum, have since resumed, with additional services reintroduced following thorough security assessments. The exchange has set aside over $6.3 billion to mitigate the repercussions of the incident.