Investors take out $3.6bn from Binance after record hack that stole billions
Source: The Guardian ·
Cryptocurrency exchange has begun to allow withdrawals after $6.3bn theft believed to have come from North KoreaInvestors have pulled $3.6bn (£2.7bn) in funds from the cryptocurrency exchange Binance, as it recovers from a record hack in which billions were stolen from customer accounts.The platform was hit by a $6.3bn theft on Thursday, which has since been described as the biggest heist in…
From the source
Investors have pulled $3.6bn (£2.7bn) in funds from the cryptocurrency exchange Binance, as it recovers from a record hack in which billions were stolen from customer accounts. The platform was hit by a $6.3bn theft on Thursday, which has since been described as the biggest heist in history. Experts identified North Korea as the likely culprit. Binance initially froze withdrawals as it investigated the breach but on Sunday announced that it had begun a phased reopening. By Sunday afternoon, Binance had processed $4.6bn in withdrawals and $1bn in deposits, resulting in a net outflow of about $3.6bn – representing 2.1% of its $171bn in total assets under management. The numbers were confirmed by the company in its latest proof of reserves snapshot. A full report is expected on Monday. Binance said that “after an initial spike, withdrawal volumes have declined and are stabilising as expected, while deposit volumes have remained substantial.” The crypto exchange told its customers that…
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