Key Takeaways
- • Binance customers withdrew $7.4 billion from the exchange after a crypto theft that security experts described as the largest digital coin theft ever, according to CBS News.
- • Customers deposited $2.7 billion after trading resumed on Sunday, producing a net outflow of $4.7 billion, per a Binance spokesperson.
- • Binance said the net outflow equals about 3% of its $157 billion in total assets and that withdrawals are stabilizing toward normal levels.
- • The FBI linked the $6.3 billion theft to North Korea-associated hacking group TraderTraitor, which North Korea denies.
- • Binance says roughly $3 billion of stolen assets were frozen and it has covered about 95% of the impacted amount with company funds.
Summary
Binance customers withdrew $7.4 billion from the world's largest cryptocurrency exchange after it suffered what security experts described as the largest digital coin theft on record, according to CBS News. On Monday, a Binance spokesperson said customers also deposited $2.7 billion after the company allowed users to resume transactions on Sunday in Bitcoin, Ethereum and other cryptocurrencies, resulting in a net outflow of $4.7 billion. Binance, which has more than 300 million users, said the withdrawn value represents just 3% of its $157 billion in total assets. "The net outflow is a relatively limited portion of Binance's overall asset base," the spokesperson said in an email, adding that withdrawal levels are stabilizing toward normal and expected on-chain activity.
The FBI linked the theft of $6.3 billion in digital currency to cybercriminals associated with North Korea. The bureau said the group believed responsible, known as "TraderTraitor," was converting most of the stolen assets into Ethereum to obscure its trail, and that the same group was responsible for a February 2025 attack on the exchange Bybit that caused a $1.5 billion loss. North Korea denies involvement. Kim Yo Jong, sister of leader Kim Jong Un, called the FBI announcement "a trite provocation" in a statement on Tuesday.
Binance said roughly $3 billion of the stolen assets have been frozen, a measure that allows certain token issuers to block transfers anywhere in the world. The FBI has urged private-sector entities to block transactions with addresses the group is using to launder the assets. Binance has pledged to cover the full losses from company funds and said that by early Sunday morning it had covered around 95% of the impacted amount.
Coverage from other outlets, including the BBC, reported related withdrawal figures of $3.6 billion, reflecting differing measurement windows as the outflow figures were updated.
The FBI linked the theft of $6.3 billion in digital currency to cybercriminals associated with North Korea. The bureau said the group believed responsible, known as "TraderTraitor," was converting most of the stolen assets into Ethereum to obscure its trail, and that the same group was responsible for a February 2025 attack on the exchange Bybit that caused a $1.5 billion loss. North Korea denies involvement. Kim Yo Jong, sister of leader Kim Jong Un, called the FBI announcement "a trite provocation" in a statement on Tuesday.
Binance said roughly $3 billion of the stolen assets have been frozen, a measure that allows certain token issuers to block transfers anywhere in the world. The FBI has urged private-sector entities to block transactions with addresses the group is using to launder the assets. Binance has pledged to cover the full losses from company funds and said that by early Sunday morning it had covered around 95% of the impacted amount.
Coverage from other outlets, including the BBC, reported related withdrawal figures of $3.6 billion, reflecting differing measurement windows as the outflow figures were updated.
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