Key Takeaways
- • Binance customers withdrew more than $4.6 billion from the exchange after a crypto theft that security experts described as the largest digital coin theft ever, per CBS News.
- • Binance reported just over $1 billion in deposits after resuming transactions on Sunday for Bitcoin, Ethereum and other cryptocurrencies, producing a net outflow of $3.64 billion.
- • Cybercriminals stole $6.3 billion in digital currency from Binance, with roughly $3 billion of the stolen assets frozen according to Binance.
- • The FBI linked the attack to North Korea, attributing it to the hacker group "TraderTraitor," which was also responsible for a February 2025 $1.5 billion attack on Bybit.
- • Binance said withdrawals represent 2.1% of its $171 billion in total assets and that it has pledged to cover full losses with company funds, with about 95% covered as of early Sunday.
Summary
Binance customers withdrew more than $4.6 billion from the world's largest cryptocurrency exchange following a theft that security experts said was the largest digital coin theft on record, according to CBS News. In a social media post, Binance said customers also deposited just over $1 billion after the company allowed users to resume transactions on Sunday for Bitcoin, Ethereum and other cryptocurrencies, resulting in a net outflow of $3.64 billion. Binance, which has more than 300 million users, said the value of withdrawn holdings represents just 2.1% of its $171 billion in total assets.
The withdrawals followed the theft of $6.3 billion in digital currency from Binance. The FBI linked the attackers to North Korea and said on Saturday that the hacker group known as "TraderTraitor" was converting most of the stolen assets into Ethereum to obscure their trail. The same group was responsible for a February 2025 attack on the exchange Bybit that resulted in a $1.5 billion loss, according to the FBI. Binance said roughly $3 billion of the stolen assets had been frozen, and freezing allows certain issuers to block transfers of their tokens anywhere in the world.
The FBI urged private-sector entities to "block transactions with or derived from addresses TraderTraitor actors are using to launder these stolen assets." Binance has promised to cover the full losses from company funds and said that by early Sunday morning it had covered around 95% of the impacted amount. Binance cofounder Yi He said in an X post early Monday that the company's top priority was to secure the environment, after which users could withdraw funds and Binance could resume operations. Binance did not immediately respond to a request for comment.
The withdrawals followed the theft of $6.3 billion in digital currency from Binance. The FBI linked the attackers to North Korea and said on Saturday that the hacker group known as "TraderTraitor" was converting most of the stolen assets into Ethereum to obscure their trail. The same group was responsible for a February 2025 attack on the exchange Bybit that resulted in a $1.5 billion loss, according to the FBI. Binance said roughly $3 billion of the stolen assets had been frozen, and freezing allows certain issuers to block transfers of their tokens anywhere in the world.
The FBI urged private-sector entities to "block transactions with or derived from addresses TraderTraitor actors are using to launder these stolen assets." Binance has promised to cover the full losses from company funds and said that by early Sunday morning it had covered around 95% of the impacted amount. Binance cofounder Yi He said in an X post early Monday that the company's top priority was to secure the environment, after which users could withdraw funds and Binance could resume operations. Binance did not immediately respond to a request for comment.
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