Binance customers pulled $3.64bn (£2.72bn) of assets on Sunday, Oct 2, as the exchange reopened following a record-breaking hack the week before.
The breach halted all transactions and is reported to have affected $6.3bn of digital assets, with the US Federal Bureau of Investigation and other agencies blaming a North Korean group, describing it as the largest hack in history.
Binance said it has already restored roughly 95 per cent of the stolen funds, while the balance may take longer to recover, and reiterated its pledge to cover every loss linked to the incident.
The firm also disclosed that it has set aside more than $6.34bn in reserves to manage the fallout.
“Between 06:00 and 15:30 [GMT] on November 1, we processed $4.649 billion in withdrawals and $1.01 billion in deposits, resulting in a net outflow of approximately $3.64 billion,” Binance posted on X.
An “initial spike” in withdrawals later eased and are now “stabilising as expected,” the exchange added, noting that the net outflow represents just over 2 per cent of its $171bn asset base.
Binance confirmed that withdrawals of more than two dozen major cryptocurrencies, including Bitcoin and Ethereum, have resumed and that additional services will be reinstated in stages after security checks are completed.
The attack has been linked to TraderTraitor, also known as the Lazarus Group, a North Korean cyber-crime outfit that previously stole $1.5bn from Bybit in 2025; the FBI released a list of related wallet addresses and urged industry partners to block related transactions.
Early investigations point to a compromised laptop belonging to an engineer as the entry point that enabled unauthorised transactions, affecting Binance’s global platform Binance.com while its US-facing service remained untouched.
Binance said it replaced customers’ assets using its corporate treasury, futures insurance and emergency reserve funds, stating, “Our commitment remains the same: Binance will fully cover the financial impact of the funds stolen in this incident.”
Binance, founded in China, is the world’s largest cryptocurrency exchange and serves hundreds of millions of registered users worldwide.
