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Customers withdrew assets worth $3.6 billion from the world's largest cryptocurrency exchange, Binance, after its resumption of operations. The company was suspending all operations following a massive hack that resulted in the theft of approximately $6.3 billion in assets.
Approximately $3.64 billion is a net outflow of funds, Binance explained. In nine and a half hours after the exchange resumed operations, clients withdrew funds amounting to $4.649 billion, Binance reported on social network X, but during the same time $1.01 billion in funds were deposited into accounts.
Binance also clarified that on Monday, November 2, the withdrawal of more than two dozen major cryptocurrencies, including Bitcoin and Ethereum, was resumed, and the remaining services will be launched in stages as security checks are completed.
The company said it has already recovered about 95% of the assets stolen in the hack, but it may take longer to recover the remaining amount. Binance representatives have repeatedly emphasized that they will cover all losses associated with this hacker attack.
“Our position remains unchanged: Binance will fully cover the financial losses associated with funds stolen as a result of this incident,” the company previously stated.
According to the exchange, the funds were reimbursed using, among other things, insurance and reserve funds.
In the first hours after Binance partially opened the withdrawal option on Sunday, there was a “sharp surge” in activity on this issue, which subsequently subsided, the exchange said. Now, according to representatives of the exchange, the situation is “stabilizing, as expected.”
Binance noted that net withdrawals on Sunday amounted to just over 2% of the exchange's total assets under management, which reaches $171 billion.
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Meanwhile, the process of laundering assets related to the Binance hack continues, according to cybersecurity expert Alec Zebrick, a senior manager at analytics company Chainalysis (which works with the exchange and government agencies to recover stolen funds).
"The attackers are distributing these assets to thousands of addresses, making thousands of transactions," he told the BBC's Today program.
FBI version: North Korean hackers are behind the hack
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Binance was attacked on the night of October 29-30. According to a preliminary assessment of the exchange itself, the attackers stole approximately $6.3 billion worth of cryptocurrency. The platform immediately suspended deposits and withdrawals of funds and began a security check. Binance later clarified that deposit operations are available, but withdrawals are not possible.
The company initially assumed that the laptop of one of the engineers was hacked and this allowed unauthorized withdrawals of funds, but later stated that the scale of the attack turned out to be much wider.
The US Federal Bureau of Investigation (FBI), as well as a number of analytical companies, blamed North Korea for this cyber attack. We are talking about hackers from the North Korean group TraderTraitor, also known as the Lazarus Group.
In 2025, hackers from TraderTraitor stole a then-record amount of $1.5 billion from the Bybit cryptocurrency exchange. The current attack on Binance significantly exceeded last year's in terms of the amount of stolen funds.
On Saturday, the FBI published a list of cryptocurrency wallet addresses associated with the North Korean group and called on partners to block transactions involving them.
The attack affected Binance's main global platform, Binance.com, while its US market-focused division (Binance.us) said its operations were unaffected.
Binance, founded in China in 2017, allows users to trade digital assets; it is estimated to have over 300 million registered users worldwide.
In 2024, the company reported having more than $160 billion in assets under management.
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